Copper recovers from dip, analyst advise caution
METALS-Copper up but China growth fears weigh Mon Jul 8, 2013 12:32pm EDT * Dollar retreats from 3-yr high vs a basket of currencies * China trade data will give clues on appetite for metals By Silvia Antonioli LONDON, July 8 (Reuters) – Copper rose on Monday, recovering from a sharp drop on Friday as the dollar retreated from three-year highs, but worries over demand prospects in top consumer China kept gains in check. Benchmark copper on the London Metal Exchange (LME) ended at $6,830 a tonne, up from Friday’s close of $6,789. It fell more than 2 percent in the previous session after data pointing to stronger-than-expected growth in the U.S. job market bolstered concerns that the Federal Reserve could start winding down its stimulus programme as early as September. The metal, used in the power and construction industries, has lost about 15 percent so far this year. The…
Ben Bernanke’s announcement changes outlook in precious metals market
June 21, 2013 2:20 PM Gold Traders To Eye Treasury Yields, Physical Demand Next Week Treasury yields and the amount of bargain hunting that emerges after this week’s sell-off will be closely watched by gold traders next week. Prices fell sharply this week after remarks from Federal Reserve Chairman Ben Bernanke Wednesday suggesting that the Federal Reserve may be able to start tapering its asset purchases, known as quantitative easing, sometime this year and potentially could end them by the middle of next year, assuming the U.S. economy continues to improve, analysts said. The Fed chairman emphasized more than once that any actual steps would hinge on future economic data, but markets nevertheless zeroed in on the potential for tapering, with equities weakening but Treasury yields and the U.S. dollar rising. August gold settled after the pit session Friday at $1,292 an ounce on the Comex division of the New…