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NY precious metals mixed, copper inches up by midday
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16 Jul 2009 12:09
NEW YORK, July 16 (Reuters) - Midsession prices and market
updates for New York precious metals and copper:
GOLD
* August <GCQ9> down $3.20 at $936.20 an ounce at 11:53
a.m. EDT (1553 GMT) on the COMEX division of the New York
Mercantile Exchange.
* Trading range between $932.60 and $940.50. August
contract hit a two-week high on Wednesday.
* Gold futures rose toward $950 in the previous session as
faster-than-expected rise in U.S. consumer prices in June
boosted inflation-hedge buying in bullion.
* August futures did not fall further as the dollar hit a
five-week low against major currencies after strong earnings
from JPMorgan tarnished the U.S. currency's safe-haven appeal.
[FRX/]
* Expected high global job losses due to economic slowdown
and low consumer prices are consistent with strong deflationary
pressures, which are negative for gold - James Steel, chief
commodities analyst at HSBC.
* Spot gold <XAU=> traded at $936 an ounce, against $938.45
in its previous session finish.
* London gold fix <XAUFIX=> at $935 an ounce.
SILVER
* September <SIU9> up 8.2 cents at $13.290 an ounce in
directionless trade, as the market takes a breather after
Wednesday's sharp rally.
* Ranging $13.135 to $13.325.
* Gold/silver ratio currently at above 70, up from around
60 in early June, when silver hit a high above $16 an ounce,
following gold's strength.
* Spot silver <XAG=> $13.28 an ounce, compared with its
previous close of $13.25.
* London silver fix <XAGFIX=> at $13.21 an ounce.
PLATINUM
* October <PLV9> up $13.10, or 1.1 percent, at $1,171 an
ounce as better economic sentiment boosts demand for platinum
autocatalyst.
* Spot platinum <XPT=> at $1,165.50 an ounce, against its
$1,156 previous session's close.
PALLADIUM
* September <PAU9> up $2.10 at $250.50 an ounce, tracking
platinum's gains.
* Spot palladium <XPD=> was at $248 an ounce, compared with
$244.50 in its previous finish.
COPPER
* Copper for September delivery <HGU9> up 0.15 cent at
$2.3935 a lb, as investors take profits after the precious
session's rally.
(Reporting by Frank Tang; Editing by Walter Bagley)
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CBOT 100 oz gold futures <0#ZG:>
CBOT 5,000 oz silver futures <0#ZI:>
Spot gold/silver <XAU=><XAG=>
Platinum/palladium <XPT=><XPD=>
Gold lease rates <LGLR>
COMEX gold futures <0#GC:>
COMEX copper futures <0#HG:>
N.Y. metals hourly volumes <IZQI>
Vols/open interest <IATZ>
Europe/Asia prices <GOLD/EU1> <GOLD/EU2> <GOLD/ASIA1>
RELATED NEWS AND OTHER TOPICS Precious metals news [GOL]
All metals news [MTL] All commodities news [C] Metals diary
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