Gold futures closed slightly higher, recovering from early losses due to higher dollar and stronger than expected US jobs growth.
Gold holdings of SPDR gold trust, the largest ETF backed by the precious metal, declined to 1,239.74 tons, as on March 8.
Gold imports by China from Hong Kong fell for the first time in 4-months in January. China bought 51.303 tons of gold, including scrap and coins, down from a record 114.405 tons in December, according to export data released by Hong Kong’s Census and Statistics Department.
Fitch has cut Italy's long-term foreign currency issuer default rating to 'BBB+' from 'A-' with a negative outlook, citing political uncertainty.
Copper prices declined across major markets, after imports into China, the biggest buyer,
tumbled to the lowest in 20-months and as stockpiles of the metal expanded to their highest
in almost a decade.
Chinese shipments of refined metal, alloy and products declined by 38% to 298,102 tons last
month while scrap-copper imports were at 300,000 tons in February, compared with 380,000 tons in January, as per customs data.
Global inventories on copper monitored by exchanges in London, New York and Shanghai climbed to 803,128 tons, rising above 800,000 for the first time since Dec’03 - Bloomberg. Inbound shipments of unwrought aluminum and products totaled to 45,478 tons last month, while exports of unwrought aluminum were 19,302 tons, as per Chinese customs data.
Crude oil futures closed near $92 per barrel & gained more than 1% for the week, as strong import data out of China and a jump in US nonfarm payrolls offered positive signals for demand, outweighing pressure from a rise in the dollar.
Indian importers have halted shipments from Iran, as insurance companies are refusing to cover the refineries that process imported crude oil due to Western-imposed sanctions on Iran, reported the Washington Times on Friday.
Natural gas futures closed up by more than 1% & settled at a fresh 2013 high, amid lingering late winter cold in important consuming regions.
Gold holdings of SPDR gold trust, the largest ETF backed by the precious metal, declined to 1,239.74 tons, as on March 8.
Gold imports by China from Hong Kong fell for the first time in 4-months in January. China bought 51.303 tons of gold, including scrap and coins, down from a record 114.405 tons in December, according to export data released by Hong Kong’s Census and Statistics Department.
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The euro fell against the dollar to its lowest since mid-December, after a report showed US employers stepped up hiring in February, suggesting the economy has enough momentum to withstand the blow from higher taxes and deep government spending cuts while a downgrade of Italy added more pressure.
Fitch has cut Italy's long-term foreign currency issuer default rating to 'BBB+' from 'A-' with a negative outlook, citing political uncertainty.
Copper prices declined across major markets, after imports into China, the biggest buyer,
tumbled to the lowest in 20-months and as stockpiles of the metal expanded to their highest
in almost a decade.
Chinese shipments of refined metal, alloy and products declined by 38% to 298,102 tons last
month while scrap-copper imports were at 300,000 tons in February, compared with 380,000 tons in January, as per customs data.
Global inventories on copper monitored by exchanges in London, New York and Shanghai climbed to 803,128 tons, rising above 800,000 for the first time since Dec’03 - Bloomberg. Inbound shipments of unwrought aluminum and products totaled to 45,478 tons last month, while exports of unwrought aluminum were 19,302 tons, as per Chinese customs data.
Crude oil futures closed near $92 per barrel & gained more than 1% for the week, as strong import data out of China and a jump in US nonfarm payrolls offered positive signals for demand, outweighing pressure from a rise in the dollar.
Indian importers have halted shipments from Iran, as insurance companies are refusing to cover the refineries that process imported crude oil due to Western-imposed sanctions on Iran, reported the Washington Times on Friday.
Natural gas futures closed up by more than 1% & settled at a fresh 2013 high, amid lingering late winter cold in important consuming regions.