Commodity Blog

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Gold & Copper Falls on Lower Chinese Demand & Dollar Rally

November 26, 2010 at 23:38 by Vladimir Vyun

Gold and copper slipped today on concerns that Chinese demand may dwindle and after dollar rallied as tension between North and South Korea increased and European debt threatens to spread across Eurozone. Demand for the metal in China may decrease after policy makers took measures to curb speculative trading and cut inflation. Conflict between North and South Korea is heating after the US intervened. The resulting worries pushed the dollar up and undermined commodities. March futures for copper delivery dropped $0.004 (0.1 percent) to $3.7625 per pound as of 13:23 on COMEX. February futures for gold delivery slipped $10.70 (0.8 percent) to $1,364.30 per ounce by 13:43 on COMEX.

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