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Copper rallied for the first time in three days as U.S. equities gained and a government report showed new-home construction rose at the fastest pace in almost four years, brightening demand prospects for the metal.
Aluminum, lead and zinc also advanced in London, while tin fell and nickel was unchanged.
ENERGY WRAP:
Aluminum, lead and zinc also advanced in London, while tin fell and nickel was unchanged.
ENERGY WRAP:
Oil rose a seventh day in New York, the longest run of gains since February, after U.S. gasoline supplies unexpectedly shrank and housing starts climbed, signaling fuel demand may increase amid an economic recovery.
Natural gas climbed to a six-month high on speculation that government data will show a shrinking supply surplus for the 15th consecutive week.
PRECIOUS METAL WRAP:
Natural gas climbed to a six-month high on speculation that government data will show a shrinking supply surplus for the 15th consecutive week.
PRECIOUS METAL WRAP:
Gold traded little changed on Thursday, after two sessions of losses as U.S. Federal Reserve Chairman Ben Bernanke offered no hints on further stimulus and worries about the euro zone persisted. Federal Reserve Chairman Ben Bernanke, in his second-day testimony to the Congress, again did not hint at new stimulus measures despite recent signs of tepid job market and a slow-down in economic growth.
Sept Comex Silver last traded down 0.196 at 27.12 oz.Mr. Bernanke’s Tuesday and Wednesday talks to the US Congress saw traders and investors generally disappointed the Fed chief’s remarks did not include any fresh clues on easing of US monetary policy coming soon.
Sept Comex Silver last traded down 0.196 at 27.12 oz.Mr. Bernanke’s Tuesday and Wednesday talks to the US Congress saw traders and investors generally disappointed the Fed chief’s remarks did not include any fresh clues on easing of US monetary policy coming soon.
GLOBAL EVENTS TO WATCH:
National Australia Bank's Business Confidence, Japan Leading Economic Index (May), Switzerland Trade Balance (June), Euro zone Current Account s.a (May), Italy Industrial Orders n.s.a (YoY) (May), UK Retail Sales (YoY) (June), ECB mid-month meeting, US Initial Jobless Claims (July 14), US Existing Home Sales Change (June) and Philadelphia Fed Manufacturing Survey (July).
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