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Markets

US gold futures edge higher, copper off on Greece

NEW YORK : US gold held inched higher Monday morning as uncertainties surrounding the debt crisis in Greece spurred
27 Jun, 2011

goldNEW YORK: US gold held inched higher Monday morning as uncertainties surrounding the debt crisis in Greece spurred safe-haven buys, while copper fell nearly one percent as the concerns drove investors to shun risk.

FUNDAMENTALS

*Gold back up above $1,500 an ounce as the Euro debt crisis simmered.

* Copper dipped as investors sided with caution over uncertainty about the debt crisis in Greece and US monetary policy.

* Inventories of copper in LME warehouses fell 3,175 tonnes to 470,525 tonnes, but were still about 35 percent higher than in December last year.

ECONOMY

* US personal income and consumption. 8:30 a.m. EDT (1230 GMT)

MARKETS

* Brent crude slipped on a firmer dollar ahead of a vote in Greece to approve an unpopular austerity plan upon which rests the Balkan nation's ability to get lending to fight its debt crisis.

* The euro slipped and world stocks fell ahead of the Greek austerity vote this week.

 

Copyright Reuters, 2011

 

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