Friday, 11 July 2014
BASE METAL WRAP: Nickel prices slid on
Thursday as inventories rose, giving investors a reminder of an overhang of
material despite an Indonesian export ban. Copper rebounded after upbeat U.S. jobs data raised the
prospect of higher demand for industrial metals.
ENERGY WRAP: West Texas
Intermediate headed for a third weekly drop as Libya boosted its crude output
and gasoline stockpiles expanded in the U.S., the world’s biggest oil consumer.
Brent was steady in London.
PRECIOUS METAL WRAP: Gold held near a
four-month high, heading for the longest run of weekly gains since March, as
concern Europe’s economy remains vulnerable to shocks and rising tension in the
Middle East boosted haven demand. Palladium traded near a 13-year high, set for
a fourth weekly advance.
GLOBAL EVENTS TO WATCH: Unemployment
Rate, Employment Change, Federal Budget Balance.
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