Oil prices fell in volatile trading yesterday not long after hitting an eight-month high. Benchmark crude for August delivery dipped $1.60 (U.S.) to settle at $69.89 a barrel on the New York Mercantile Exchange after swinging between $68.90 and $73.38 in early trading.
Gold future prices, often seen as a barometer of investor fear, were holding firm at $940 per ounce. On a quarterly basis, the metal has not fared as well as other key commodities, on track for a rise of just 2.5 per cent in the April-June period as investors concentrated on rallies in pro-risk assets
LONDON -(Dow Jones)- Xstrata PLC (XTA.LN) Chief Executive Mick Davis on Monday
said copper has the strongest fundamentals, partly reflecting demand from China,
among the company's suite of commodities.
"Copper sits at the top of my list as far as commodities," Davis said at a
Melbourne Mining Club Dinner in London.
Platinum also appears poised for a resurgence, though only when the U.S. and
Europe resume more rapid economic growth, he said.
"I don't see the green shoots people talk about in the U.S. and Europe," Davis
said.
CLOSING PRICES (SPOT)
Gold US$/troy ounce 927.65 -10.40
Silver US$/troy ounce 13.58 -0.30
Copper US$/lb 2.24 -0.06
Lead US$/lb 0.76 -0.01
Zinc US$/lb 0.69 0.00
Aluminum US$/lb 0.72 0.00
Nickel US$/lb 6.94 -0.19
Oil West Texas US$/bbl 69.89 -1.60
Nat Gas Henry Hub US$ mmbtu 3.72 -0.16
Nat.Gas AECO C C$/gigajoule 3.18 0.05
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