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MARKET WRAP : 04/11/2011:clap:
Gold rallies above $1,470/oz
silver soars on dollar decline
Base metals jump to new highs as inflation fears mount
Copper ended up over 2 percent on Friday
Stocks of copper saw another 1,800 tonnes flow into LME warehouses
Lead hits new multi week high Gold rose to a record high for a fourth straight day and silver surged on Friday, as a weaker dollar, the prospect of a U.S. government shutdown and inflation worries lifted precious metals in a broad commodities rally. Copper ended up over 2 percent on Friday, posting its biggest weekly advance since early December, as the dollar weakened and investor demand for the metal increased with inflation fears mounting.
London Metal Exchange three-month copper rallied $205 to close at $9,875 per tonne, near a session peak of $9,896 -- its highest in more than a month.
Gold rallies above $1,470/oz
silver soars on dollar decline
Base metals jump to new highs as inflation fears mount
Copper ended up over 2 percent on Friday
Stocks of copper saw another 1,800 tonnes flow into LME warehouses
Lead hits new multi week high Gold rose to a record high for a fourth straight day and silver surged on Friday, as a weaker dollar, the prospect of a U.S. government shutdown and inflation worries lifted precious metals in a broad commodities rally. Copper ended up over 2 percent on Friday, posting its biggest weekly advance since early December, as the dollar weakened and investor demand for the metal increased with inflation fears mounting.
London Metal Exchange three-month copper rallied $205 to close at $9,875 per tonne, near a session peak of $9,896 -- its highest in more than a month.
