BASE METAL WRAP:
London copper edged up
after signs of a pick-up in the U.S. housing industry and as China pledged to quicken
the pace of financial reform, lending support to demand growth for commodities.
ENERGY WRAP:
Brent extended its
first weekly gain this month amid speculation escalating violence in Libya will
further disrupt supplies from the holder of Africa’s biggest oil reserves. West
Texas Intermediate was steady in New York. Faster-than-expected gains in U.S.
natural-gas inventories are easing concern that a shortage is looming next
winter, spurring speculators to cut bullish bets.
PRECIOUS METAL WRAP:
Gold held below $1,300
an ounce as investors assessed the health of the U.S. economy and the impact on
monetary stimulus against tension in Ukraine and Hedge funds cut bullish bets
on gold futures by the most in a month as holdings of physical bullion in exchange-traded
funds dropped to the lowest since 2009.
GLOBAL EVENTS TO WATCH:
German Buba President
Weidmann Speaks.
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