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US gold, copper rebound as funds buy after pullbacks
April 5, 2012 / 12:26 PM / 6 years ago

US gold, copper rebound as funds buy after pullbacks

(Reuters is considering ending its daily metals/softs
pre-opening report on Monday April 16 and is soliciting feedback
from subscribers. Please send comments and feedback about the
move to Josephine Mason at josephine.mason@thomsonreuters.com)	
    April 5 (Reuters) - U.S. gold and copper futures rose on
Thursday after falling sharply in the previous two sessions, as
fund investors bought at lower prices brought about by
diminishing hopes of further monetary easing by the Federal
Reserve.	
        	
     FUNDAMENTALS	
     * U.S. gold prices climbed nearly 1 percent after falling
to a near three-month low the previous day as weaker prices
tempted some buyers. 	
    * COMEX copper contracts inched up, helped by consumer
buying and stabilizing appetite for risk, but any gain was
expected to be limited ahead of the long Easter weekend in U.S.
and European markets. 	
	
    ECONOMY	
    * U.S. first-time claims for jobless benefits for the week
ended March 31. 8:30 a.m. EDT (1230 GMT) 	
                 	
    MARKETS 	
    * European shares and the euro fell on fears the euro debt
crisis was flaring up again ahead of the Easter holiday weekend.
 	
    * Crude oil bounced back from two losing sessions on
increasing worries over Iranian oil supplies being disrupted due
to Western sanctions. 	
    	
 Prices at 8:16 a.m. EDT (1216 GMT)                         
 
                               LAST      NET    PCT     YTD
                                         CHG    CHG     CHG
 US gold                    1625.60    11.50   0.7%    3.8%
 US silver                   31.340    0.296   1.0%   12.3%
 US platinum                1600.10     1.50   0.1%   14.3%
 US palladium                636.45     3.70   0.6%   -3.0%
 US copper                   380.20     1.15   0.3%   10.7%
 	
 (Reporting By Frank Tang; Editing by Alden Bentley)

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