Gold, base metals weaker

COMMODITY prices were weaker across the board overnight, with copper down by 0.55% and nickel by 0.32%.

  • Staff Reporter
  • 19 May 2017
  • 08:43
  • News
Gold, base metals weaker

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Zinc was sitting at close to 2017 lows after a 1.1% fall to $2518.25 per tonne.
 
Gold was also weaker as the dollar rallied on positive manufacturing data. After peaking at $1265 an ounce last night, gold pulled back to as low as $1245/oz.
 
Spot gold was sitting at $1248/oz this morning.
 
Oilprice.com reported that WTI crude oil was up 0.18%, sitting at $49.8 per barrel.
 
Cocoa increased by $30 or 1.46% to $2,084/t yesterday from $2,054/t in the previous trading session, tradingeconomics.com reported.
 
Palm oil was down yesterday, dropping to 2871 Malaysian ringgit per tonne from MYR2886/t the previous session.
 
Coffee was also down, tradingeconomics.com reported, decreasing 2.08% to 129.45 cents per pound from 132.20c the previous trading day.

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