LONDON: Gold prices struck six-month highs this week but copper futures tumbled to the lowest level in nearly four years on market concerns over slowing Chinese economic growth.
Investors sought haven investments such as gold also because of the Ukraine crisis and as the euro spiked to a 29-month peak at almost $1.40 Thursday.
Crude oil futures meanwhile dropped also on China growth worries, while tight supplies continued to lift the value of soft commodities coffee and cocoa.
PRECIOUS METALS: Gold extended its recent run higher, reaching a six-month high at $1,388.11 an ounce on Friday.
Gold is regarded as a safe investment in times of economic or political uncertainty.
By late Friday on the London Bullion Market, the price of gold jumped to $1,385 an ounce from $1,335.25 a week earlier.
Silver dipped to $21.36 an ounce from $21.38.
On the London Platinum and Palladium Market, platinum gained to $1,478 an ounce from $1,474.
Palladium grew to $780 an ounce from $776.
BASE METALS: Copper prices slumped for a second week running on poorly-received data from China, the world's top consumer of base or industrial metals, striking the lowest level for almost four years.
Copper sunk to $6,376.25 a tonne, a depth not reached since June 2010.
Lead and tin struck eight-month lows.
OIL: Prices slid this week on market concerns over slower growth in China, the world's biggest energy consumer, that overshadowed hikes to demand forecasts from OPEC and the International Energy Agency.
Myrto Sokou, senior research analyst at Sucden brokers, said that "disappointing Chinese economic data weighed... and offset any support from the ongoing tensions in Ukraine".
The International Energy Agency on Friday forecast that demand would climb faster than expected as the world economic outlook improves.
But the IEA, which advises countries on energy policy, also noted that the crisis in Ukraine could still drag down overall consumption.
By Friday on London's Intercontinental Exchange, Brent North Sea crude for delivery in April dropped to $107.58 a barrel from $108.54 a week earlier.
COFFEE: Prices extended their run to fresh highs as drought conditions continued to affect production in major producers Brazil and Vietnam.
By Friday on the ICE Futures US exchange, Arabica for delivery in May advanced to 203.75 US cents a pound from 196.05 cents a week earlier.
COCOA: Prices returned to higher ground, striking fresh 2.5 year highs on the back of stretched global supplies.
Cocoa reached £1,888 a tonne in London and $3,027 a tonne in New York.
SUGAR: Prices fell from four-month highs as drought conditions eased in Brazilian sugar-growing areas.
RUBBER: Prices climbed further on sustained demand and tight supply of the commodity.
