Monday, December 27, 2010

Copper Surges on China Inventory; Gold Higher While Crude Declines

Commodities finished mixed with copper futures hitting a new record and gold logging gains. Oil futures ended floor trading in the red.

Crude oil for February delivery finished down $0.51, or 0.6%, to $91 a barrel. In other energy futures, heating oil ended down 0.74% to $2.52 a gallon while natural gas fell 0.83%, to $4.04 per million British thermal units.

Meanwhile, gold notched gains while copper remained the standout in the metals market by hitting a fresh record settlement.

Gold for February delivery finished up 0.2% to $1,382.90 an ounce. In other metal futures, silver was down 0.15% to $29.28 a troy ounce while copper rose 0.41% to $4.28 a pound.

The U.S. dollar index (DXY) is down 0.18% to $80.35.

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