The base metals were all in positive territory on Friday. Copper started up in the pre-dawn hours and never quit, only just coming off its intraday high late and finishing at $1.5998/lb., up more than 11 cents.
In the energy market on Thursday, oil edged higher after slipping below the $40 mark in intraday trading, with crude for March delivery closing at $41.17, up 85 cents. March reformulated gasoline added 5 cents, to $1.27/gallon.
Gold was little changed until New York opened, whereupon it rose to its high for the day at $911, then fell from mid-morning to noon, bottoming at $890, and finally rallied through the Globex to finish at $900.60/oz., down $4.20. Overnight, gold has drifted lower.
In the energy market on Monday, oil dropped off, with crude for March delivery closing at $40.08, down $1.60. March reformulated gasoline plunged after its recent runup, shedding 12 cents, to $1.1492/gallon.
In the energy market on Friday, oil moved slightly higher, with crude for March delivery closing at $41.68, up 24 cents. March reformulated gasoline prolonged its recent rally, gaining 3.78 cents, to $1.2687/gallon.
The base metals were mixed again on Thursday. Copper fell from the pre-dawn hours to just after the New York open, and though it rallied from there, failed to reach the green at $1.4432/lb., down 3 cents.
Gold was lower from the foreign markets to mid-morning in New York, but then it was off to the races as it jumped $25 from there to the Comex close, and continued to build on its gains through the Globex, plowing back over $900 to finish at $907.70/oz., up $21.30. Overnight, gold shot higher.
The base metals all fell back into the red on Tuesday. Copper peaked in the late pre-dawn hours and it was all downhill from there, as it barely came off its intraday lows late to finish at $1.4483/lb., down 9ΒΌ cents.
In the energy market on Friday, oil sank, with crude for March delivery closing at $45.73, down 74 cents. March reformulated gasoline was off 2.69 cents, to $1.1531/gallon.
Gold was rangebound on Wednesday, staying mostly between $850 and $860, with no sharp moves in either direction, and when all was said and done it finished little changed at $853.20/oz., down $2.60. Overnight, gold has drifted lower.
