Monday July 2, 1:59 pm Eastern Time
COMMODITIES-Silver hits 4-year low, base metals rebound
LONDON, July 2 (Reuters) - The price of silver dipped to its four-year low on Monday, dragged by weaker gold, and traders said the trend was likely to continue with a downward bias.
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Copper and aluminium rallied in London Metal Exchange (LME), trade boosted by positive U.S. economic data, while in other markets LIFFE sugar futures and cocoa ended softer.
Three months copper ended the day at $1,582, up $17 from Friday's evening kerb close. Aluminium followed in copper's footsteps, gaining $12 to $1,485. Zinc ended down $2 at $892, while lead ended a steady day down $2 at $451. Nickel closed $10 lower at $6,030. Elsewhere, tin was down $65 at $4,615, with alloy last indicated at $1,200/05, up $8.
SUGAR, COFFEE END SESSION WEAKER
LIFFE sugar futures closed the session weaker, with many market players focusing on near-expiry August. Front August, whose expiry is slated for July 16, closed at $270.00 a tonne, down from $274.00, while near month October posted a weaker close at $247 a tonne, down from $254. Robusta coffee futures edged lower in quiet trade, following a downward trend recorded in recent days. September , the most-active month, shed $2 to close at $551 a tonne while November was down $3 at $556. Spot July was down $3 at $539 a tonne. |
