Oil prices rallied on Friday on news that Iranian oil exports have fallen significantly this month as tightening Western sanctions have caused some buyers to stop or scale back purchases.
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Monday, 26 March 2012
SHANGHAI COPPER
The most-traded June copper contract on the Shanghai Futures Exchange was close to unchanged at 60,130 yuan ($9,500) a tonne, up 0.17 percent.
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LME COPPER
Three-month copper on the London Metal Exchange rose 0.30 percent to $8,405 a tonne by 0104 GMT, building on 1 percent gains in the prior session.
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COPPER
The most-active copper for April delivery on the MCX last ended steady at 432.15 rupees per kg.
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SPDR GOLD
The SPDR Gold Trust, the world’s biggest gold ETF, said its holdings fell 0.8 percent last week, the biggest weekly decline since late December.
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SPOT GOLD
Spot gold edged up 0.3 percent to $1,666.89 an ounce by 0038 GMT, after rising more than 1 percent last Friday.
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GOLD
The most-active gold for April delivery on India’s Multi Commodity Exchange (MCX) ended flat at 28,099 rupees per 10 grams on Saturday.
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U.S. MARKET UPDATE
U.S. stocks rose in light volume on Friday, buoyed by rising energy and basic materials shares, as the S&P 500 kept showing resilience even as it posted its second negative week so far this year.
The Dow Jones industrial average gained 34.59 points, or 0.27 percent, to 13,080.73 at the close. The S&P 500 Index rose 4.33 points, or 0.31 percent, to 1,397.11. The Nasdaq Composite added 4.60 points, or 0.15 percent, to 3,067.92.
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Commodity Market Outlook :26-03-2012
Gold up 1 pct, biggest one-day rise since Feb. 21
Crude oil spike, fall in dollar trigger short-covering
Silver took its lead from gold, rising 2 percent
Copper ends up but loses 1.5 pct on the week
Shanghai, LME copper inventories fall
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