Sun, Aug 21, 2011 - Page 10 News List

Investors rush to gold as world markets take a hit

NEW HIGH:The precious metal reached a record price of US$1,878.15 an ounce on Friday as fears of another global recession sent buyers scurrying to a safe haven


Three-month lead dipped to US$2,310.25 a tonne from US$2,390. Three-month tin decreased to US$23,000 a tonne from US$24,600. Three-month zinc slid to US$2,190.75 a tonne from US$2,195. Three-month nickel dropped to US$21,339 a tonne from US$21,690.

COCOA: The cocoa market gained ground as traders eyed weather worries in leading producer Ivory Coast.

By Friday on LIFFE, London’s futures exchange, cocoa for delivery in December advanced to £1,892 a tonne from £1,849 the previous week.

Prices hit one-month highs, partly on hopes of rising demand from Asian powerhouse China.

SUGAR: By Friday on NYBOT-ICE, the price of unrefined sugar for delivery in October advanced to 28.91 US cents a pound from 27.63 US cents the previous week.

COFFEE: Coffee futures also hit one-month peaks, before trimming gains slightly.

By Friday on NYBOT-ICE, Arabica for delivery in December stood at 267 US cents a pound, up from 240.75 US cents the previous week.

On LIFFE, Robusta for November changed hands at US$2,321 a tonne after US$2,253 a tonne.

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