Gold prices got pounded once again on Friday as investors continued to trim down their positions from the safe haven for second straight session. Copper prices surged on Friday as investors opted for bargain hunting. Red metal prices shrugged the decline across rest of the commodities complex. Crude oil prices ended slightly higher in the New York trade on some late hour short covering ahead of the weekend and better than expected durable goods data while it suffered sharp cut in London. Meanwhile, the crude oil prices suffered more in London than the US counterpart due to the loss of Libyan exports.
Gold futures for August delivery plunged by $19.70, or 1.3%, to settle at $1,500.90 an ounce, after trading as high as $1,549.60 and as low as $1,515, on the Comex division of the New York Mercantile Exchange.
Copper futures for July delivery surged 5.95 cents, or 1.5%, to settle at $4.0985 per lb on the Comex metals division of the New York Mercantile Exchange. Copper for three-month delivery on the LME soared by $90, or 1%, to end at $9,050 a tonne.
Copper futures for July delivery surged 5.95 cents, or 1.5%, to settle at $4.0985 per lb on the Comex metals division of the New York Mercantile Exchange. Copper for three-month delivery on the LME soared by $90, or 1%, to end at $9,050 a tonne.
Crude oil for August delivery inched up 14 cents, or 0.15%, to $91.16 a barrel on, after trading as high as $92.34 and as low as $89.82 the New York Mercantile Exchange. In London, Brent crude for August delivery shed $2.14, or 2%, to $102.52 a barrel, as high as $108.70 and as low as $103.62 on the ICE.
