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Copper prices rose on Friday but was on track for a weekly loss after investors sold the base metal complex on China's slowing growth, COVID-19 outbreaks, and U.S. tapering worries. ....
Article content However, the dollar index held close to a 3-1/2-month peak against its rival, making gold more expensive for holders of other currencies. The number of Americans filing new claims for unemployment benefits rose to a two-month high last week, a reminder that the labor market was far from being out of the woods as the nation confronts a resurgence in new COVID-19 infections. Big tech helped Wall Street inch up to a higher close on Thursday, modestly building on a two-day rally as lackluster economic data and mixed corporate earnings prompted a pivot back to growth stocks. ....
By Reuters Staff 2 Min Read July 23 (Reuters) - Copper advanced on Friday, on track for a weekly gain, as risk appetite improved after upbeat earnings in the equities market helped overcome worries about global growth. Three-month copper on the London Metal Exchange rose 0.9% to $9,524.50 a tonne by 0321 GMT, while the most-traded August copper contract on the Shanghai Futures Exchange advanced 1.8% to 69,860 yuan a tonne. Copper is often used as a gauge of global economic health. The European Central Bank’s pledge to keep interest rates at record lows for longer to boost recovery and a sluggish inflation also lent support. ....
CORRECTED-METALS-LME copper eyes worst week since March 2020 on China sale plan, Fed tone reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Gold set for third straight weekly gain as US yields, dollar pull back SECTIONS Last Updated: Apr 23, 2021, 07:53 AM IST Share Synopsis U.S. President Joe Biden s proposal to hike capital gains tax encouraged investors to flock towards bullion. iStock Related Gold gained on Friday and was poised for a third straight weekly rise as a softer U.S. dollar, falling Treasury yields and a dip in equities after U.S. President Joe Biden s proposal to hike capital gains tax encouraged investors to flock towards bullion. FUNDAMENTALS Spot gold was up 0.2% at $1,787.11 per ounce by 0135 GMT, after hitting its highest since Feb. 25 at $1,797.67 on Thursday. The metal has gained about 0.6% so far this week. ....