Market Updates
Gold Posts Modest Gains
Ivaylo
14 Sep, 2006
New York City
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The gold futures bounced back from technical support as dollar was slightly weaker on the day, although minimally, but at least allowing that some advance the in metals. The general commodities trend of being down lately maybe subsided on Wednesday, with crude-oil prices being up.Palladium, silver and copper also gained.
[R]5:00AM Gold and silver posted slight gains on Wednesday.[/R]
December gold gained $2 to settle at $596.30 a troy ounce on the NYME, while December silver advanced 6 cents to $11.20 an ounce. October platinum declined $22.70 to end at $1,185.80 an ounce while December palladium rose $6.25 at $318.35 an ounce. The most-active December copper climbed 1.20 cents at $3.3850 per pound.
October light, sweet crude oil gained 21 cents at $63.97 a barrel and October unleaded gasoline added 0.10 cent at $1.5531 a gallon. October heating oil sank 1.69 cents to finish at $1.7428 a gallon. October natural gas settled down 12.5 cents at $5.449 a million British thermal units. On the New York Board of Trade, December Arabica coffee futures moved up 0.75 cent at $1.0440 a pound. Futures on raw sugar in foreign ports for October rose 0.82 cent at 12.37 cents a pound.
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