Platinum hits record high
Monday, 24 December 2007
LONDON, Dec 23 (AFP): Platinum soared to a record high above 1,500 dollars an ounce this week owing to tight supplies of the white metal used to makes jewellery and catalytic converters for vehicles.
The price of platinum has jumped by about 35 percent this year.
PLATINUM/PALLADIUM: The price of platinum reached a record high point of 1,523.50 dollars an ounce.
On the London Platinum and Palladium Market, platinum jumped to 1,516 dollars an ounce at the late fixing Friday, from 1,462 dollars a week earlier.
Palladium rose to 355 dollars an ounce, from 346 dollars.
GOLD/SILVER: Gold prices traded around the 800-dollar level throughout the week, with gains capped by a strengthening US unit on currency markets, especially against the euro and British pound.
On the London Bullion Market, gold prices climbed to 810.50 dollars an ounce at Friday's late fixing, from 789.50 dollars a week earlier.
Silver increased to 14.28 dollars an ounce, from 14.01 dollars.
BASE METALS: Base metals prices suffered early on as markets continued to fret about the global credit crunch.
On Friday, the price of copper for delivery in three months rose to 6,790 dollars a tonne on the London Metal Exchange, from 6,495 dollars a week earlier.
Three-month aluminium prices dipped to 2,410 dollars a tonne, from 2,415 dollars.
Three-month nickel increased to 27,050 dollars a tonne, from 26,000 dollars.
Three-month lead climbed to 2,635 dollars a tonne, from 2,450 dollars.
Three-month zinc gained to 2,397 dollars a tonne, from 2,320 dollars.
Three-month tin advanced to 16,425 dollars a tonne, from 16,100 dollars.
OIL: After a steady week for crude, industry experts predict prices to trade within tight ranges for the remainder of 2007 -- a year which has seen oil strike a record high close to 100 dollars a barrel.
On Friday, New York's main oil futures contract, light sweet crude for delivery in February, rose to 92.19 dollars, compared with 91.45 dollars for the January contract a week earlier.
Brent North Sea crude for February dipped to 91.74 dollars, compared with 92.08 dollars for the January contract a week earlier.
COCOA: Cocoa prices struck a four-year peak in New York as investment funds flocked to the commodity owing to unrest in leading producer Ivory Coast.
Prices hit 2,147 dollars a tonne in New York, the highest level since February, 2003.
By Friday on the LIFFE, London's futures exchange, the price of cocoa for March delivery rose to 1,071 pounds a tonne, from 1,047 pounds last week.
COFFEE: By Friday on the LIFFE, Robusta quality for March delivery jumped to 1,899 dollars a tonne, from 1,840 dollars the previous week.
On the NYBOT, Arabica for March delivery rose to 134.15 US cents a pound from 133.30 cents the previous week.
SUGAR: Sugar futures powered ahead at the end of a year which has seen prices tumble amid strong supplies.
By Friday on the LIFFE, the price per tonne of white sugar for March delivery rallied to 317 pounds, from 298.50 pounds the previous week.
GRAINS AND SOYA:By Friday on the Chicago Board of Trade, the price of maize for March delivery gained to 4.42 dollars a bushel from 4.38 dollars the previous week.
Wheat for March delivery fell to 9.46 dollars a bushel, from 9.78 dollars.
January-dated soyabean meal-used in animal feed-rose to 11.67 dollars from 11.57 dollars.
On the LIFFE, the price per tonne of wheat for January delivery dropped to 167 pounds, compared with 181 pounds a week earlier.
RUBBER: Rubber prices edged ahead and were expected to remain high owing to the tight supplies following heavy rains and floods in producer Malaysia.
The price of platinum has jumped by about 35 percent this year.
PLATINUM/PALLADIUM: The price of platinum reached a record high point of 1,523.50 dollars an ounce.
On the London Platinum and Palladium Market, platinum jumped to 1,516 dollars an ounce at the late fixing Friday, from 1,462 dollars a week earlier.
Palladium rose to 355 dollars an ounce, from 346 dollars.
GOLD/SILVER: Gold prices traded around the 800-dollar level throughout the week, with gains capped by a strengthening US unit on currency markets, especially against the euro and British pound.
On the London Bullion Market, gold prices climbed to 810.50 dollars an ounce at Friday's late fixing, from 789.50 dollars a week earlier.
Silver increased to 14.28 dollars an ounce, from 14.01 dollars.
BASE METALS: Base metals prices suffered early on as markets continued to fret about the global credit crunch.
On Friday, the price of copper for delivery in three months rose to 6,790 dollars a tonne on the London Metal Exchange, from 6,495 dollars a week earlier.
Three-month aluminium prices dipped to 2,410 dollars a tonne, from 2,415 dollars.
Three-month nickel increased to 27,050 dollars a tonne, from 26,000 dollars.
Three-month lead climbed to 2,635 dollars a tonne, from 2,450 dollars.
Three-month zinc gained to 2,397 dollars a tonne, from 2,320 dollars.
Three-month tin advanced to 16,425 dollars a tonne, from 16,100 dollars.
OIL: After a steady week for crude, industry experts predict prices to trade within tight ranges for the remainder of 2007 -- a year which has seen oil strike a record high close to 100 dollars a barrel.
On Friday, New York's main oil futures contract, light sweet crude for delivery in February, rose to 92.19 dollars, compared with 91.45 dollars for the January contract a week earlier.
Brent North Sea crude for February dipped to 91.74 dollars, compared with 92.08 dollars for the January contract a week earlier.
COCOA: Cocoa prices struck a four-year peak in New York as investment funds flocked to the commodity owing to unrest in leading producer Ivory Coast.
Prices hit 2,147 dollars a tonne in New York, the highest level since February, 2003.
By Friday on the LIFFE, London's futures exchange, the price of cocoa for March delivery rose to 1,071 pounds a tonne, from 1,047 pounds last week.
COFFEE: By Friday on the LIFFE, Robusta quality for March delivery jumped to 1,899 dollars a tonne, from 1,840 dollars the previous week.
On the NYBOT, Arabica for March delivery rose to 134.15 US cents a pound from 133.30 cents the previous week.
SUGAR: Sugar futures powered ahead at the end of a year which has seen prices tumble amid strong supplies.
By Friday on the LIFFE, the price per tonne of white sugar for March delivery rallied to 317 pounds, from 298.50 pounds the previous week.
GRAINS AND SOYA:By Friday on the Chicago Board of Trade, the price of maize for March delivery gained to 4.42 dollars a bushel from 4.38 dollars the previous week.
Wheat for March delivery fell to 9.46 dollars a bushel, from 9.78 dollars.
January-dated soyabean meal-used in animal feed-rose to 11.67 dollars from 11.57 dollars.
On the LIFFE, the price per tonne of wheat for January delivery dropped to 167 pounds, compared with 181 pounds a week earlier.
RUBBER: Rubber prices edged ahead and were expected to remain high owing to the tight supplies following heavy rains and floods in producer Malaysia.