Friday, 25 July 2014

Commodity Market Trading News and Updates

Gold headed for its second straight weekly decline

Silver for immediate delivery declined as much as 0.3 percent

Copper dropped for the first time this week

Aluminum and lead climbed; while nickel fell an zinc was changed.

Gold headed for its second straight weekly decline as the outlook for improving economic growth curbed demand for the precious metal as a haven. Silver for immediate delivery declined as much as 0.3 percent to $20.3127 an ounce, the lowest since June 19, and was at $20.4140. Prices are set to drop 2.2 percent this week. Copper dropped for the first time this week as investors viewed a rally to the highest price since July 14 as excessive amid rising global supplies. On the LME, aluminum and lead climbed, while nickel fell an zinc was changed. Tin hadn’t traded.

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