Three-month copper on the London Metal Exchange rose 0.6 percent to $6,891 a tonne by 0108 GMT. Despite gaining since Thursday, the contract is down nearly 2 percent for the week, its second loss in three weeks.
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Friday, 3 May 2013
COPPER
London copper futures rose for a second session in a row on Friday, backed by the European Central Bank’s interest rate cut to support a recession-hit euro zone, although the modest gains indicated caution ahead of a U.S. jobs report.
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U.S.CRUDE
U.S. crude for June delivery was little changed at $93.80 a barrel by 0036 GMT after settling at $93.99 on Thursday. The contract jumped 3.3 percent in the prior session, its biggest daily increase since early November
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BRENT CRUDE
Brent crude held below $103 a barrel on Friday, holding on to most of its steep gains from the previous session when an interest rate cut by the European Central Bank boosted investors’ appetite for riskier assets
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SPOT GOLD
Spot gold hit an intraday high around $1,468 an ounce and stood at $1,466.74 by 0022 GMT, up only 50 cents from the previous close. Investors are waiting for U.S. non-farm payrolls report for April due on Friday, which will signal the longer-term prospects for the Fed’s monetary stimulus.
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GOLD
Gold edged up slightly on safe-haven buying on Friday, heading for a second straight weekly gain, after the European Central Bank cut interest rates to an all-time low and the U.S. Federal Reserve said it would keep up its bond purchases to spur growth.
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Thursday, 2 May 2013
COPPER
Copper slid on Wednesday, extending its deepest monthly drop in almost a year in April, due to concerns over growth in top metal consumer China and in the United States after data suggested the world’s two biggest economies remain fragile.
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U.S.CRUDE
U.S. crude futures dropped for a third session running on Thursday, hurt by weak economic data from top oil consumers China and the United States although the Federal Reserve’s commitment to sustain monetary stimulus kept losses in check.
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BRENT CRUDE
Brent, which fell more than 2 percent on Wednesday, edged up 11 cents to $100.06 a barrel by 0233 GMT on Thursday after hitting a low of $99.51 — just shy of the prior session’s trough of $98.76.
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SPOT GOLD
Spot gold fell $1.18 an ounce to $1,455.56 by 0035 GMT, having shed more than 1 percent in the previous session — its biggest daily drop since the bullion’s historic decline in mid-April. It hit a low of $1,439.74 on Wednesday, the weakest since April 25.
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