Prices for copper, silver and other metals rose yesterday as a weaker U.S. dollar and the promise of an economic recovery lured investors to commodities. Among soft commodities, cotton and cocoa were higher, while coffee and sugar prices declined.

LONDON - Copper rose to a fresh 10-1/2 month high before retreating slightly, with traders weighing hopes for an economic recovery against fears that the rally has been overdone.

Copper has more than doubled since the start of the year amid record Chinese imports and hopes for an economic recovery.


While there are concerns Chinese copper buying will decline in the second half, some in the market are betting a recovery in the Chinese economy will offset this factor and boost copper.

LONDON - Gold rose in Europe on Friday as the U.S. dollar edged lower versus a basket of currencies ahead of a raft of U.S. data due later in the session, while oil and equities extended gains on hopes for an economic recovery.


Silver jumped to a two-month high of $15.16 (U.S.) an ounce, lifted by gold's climb and a better appetite for industrial commodities.

Among other precious metals, platinum was at $1,269.00 an ounce against $1,265, while palladium was at $275 against $274.

CLOSING PRICES (SPOT)

Nickel US$/lb 9.31 0.43

Copper US$/lb 2.90 0.09

Gold US$/troy ounce 954.70 7.85

Silver US$/troy ounce 15.01 0.45

Lead US$/lb 0.87 0.04

Zinc US$/lb 0.85 0.03

Aluminum US$/lb 0.92 0.03

Oil West Texas US$/bbl 70.52 0.36

Nat Gas Henry Hub US$ mmbtu 3.34 -0.02

Nat.Gas AECO C C$/gigajoule 2.91 -0.02