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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: grampa who wrote (21622)	10/3/2003 12:25:54 PM
From: Stephen O	Read Replies (1) \| Respond to of 39344

Stick to base metals. Look at copper today, big blocks traded on First Quantum and Inmet, Breakwater up 10% too. Copper Prices Rise on Report That U.S. Added Jobs in September Oct. 3 (Bloomberg) -- Copper rose to a 31-month high in New York after a government report showed an increase in U.S. jobs, raising expectations for a pickup in economic growth that would spur demand for metal wire and pipes. U.S. businesses in September added workers to payrolls for the first time in eight months, and construction employment was the highest in more than two years, the Labor Department said. Construction is the biggest use for copper, accounting for 40 percent of demand. Copper prices have climbed 19 percent this year on expectations for accelerating demand. ``Anything that's positive for the economy is positive for copper because copper is such an integral part of the economy,'' said Tony Nappi, a copper trader at Triland USA Inc. in New York. ``This generally relates to a stronger economy.'' Copper for December delivery rose 0.25 cent to 83.6 cents a pound at 9:39 a.m. on the Comex division of the New York Mercantile Exchange. The contract reached 83.95 cents earlier in the session, the highest price since March 2001. ``We need to go over 83.9 cents to 84 cents to keep the rally going,'' said Michael Norton, a copper trader at Manhattan Metals in New York. Construction added 14,000 jobs, rising to 6.837 million in September, the most since 6.845 million in July 2001, the Labor Department report showed. An average home contains about 400 pounds of copper. In London, copper for delivery rose $11 to $1,836 a metric ton (83.28 cents a pound) on the London Metal Exchange. The price earlier in the session reached $1,840, the highest since March 2001. --Claudia Carpenter in New York (1)(212) 318-2346 or at ccarpenter2@bloomberg.net, through the Washington newsroom. Editor: Enoch.

To: grampa who wrote (21622)	10/3/2003 12:27:24 PM
From: Louis V. Lambrecht	Read Replies (1) \| Respond to of 39344

A fight to prevent the Dollar index to lose support. First sign was on Oct 1st release of open interest in the futes contract when the intervention of Sep 30 failed (futures report day-1 volumes and open interest). Dec futures had to make a double bottom @.93, this failed, and I guess "they" are fighting to keep the .93 bottom. On other fronts, Euro is on a seconf wave of selling, PMs are thrown away, but energies are up and yields are up. This makes no sense. Hence, expecting some financial/monetary decision this weekend, maybe a G-7 pow-wow.