Market Updates
Gold Keeps Moving up
Ivaylo
11 May, 2006
Metals
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Worries over inflation have been an integral part of the bullish mood powering the rally in the metal trading, together with tensions over Iran
[R]5.30 AM Gold settles a new all-time high at the close of trading session.[/R]
June gold closed $4.20 up at $705.70 an ounce. It hit fresh highs twice in the past 24 hours of trading, the first one being $706.80 a troy ounce in Wednesday, and the second one - $707.80 an ounce in after hours trading for Thursday. July platinum also touched new grounds, hitting $1,268.50 an ounce to settle at $1,259.70 an ounce, up $20.40. Silver futures finished at 18.5 cents down at $14.28 an ounce. Palladium was also down for the day closing $4.70 down at $390.20 an ounce. The most-traded copper contract was up 9.20 cents at $3.6880 per pound.
June crude oil advanced $1.51 to finish at $72.20 a barrel, following a low of $69.65 a barrel. Gasoline was up 12.34 cents to end at $2.17 a gallon. The most-traded cocoa contract finished $2 down at $1,561 a metric ton. July Arabica coffee finished 0.10 cents higher at $1.09 a pound on the New York Board of Trade. July futures for raw sugar in foreign ports ended down 0.09 cents at 17.38 cents a pound.
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