Gold price shines, copper melts on China, Ukraine fear
Published on Mar 15, 2014 12:37 AM
LONDON (AFP) - Gold prices struck six-month highs this week but copper futures tumbled to the lowest level in nearly four years on market concerns over slowing Chinese economic growth.
Investors sought haven investments such as gold also because of the Ukraine crisis and as the euro spiked to a 29-month peak at almost $1.40 (S$1.77) on Thursday.
Crude oil futures meanwhile dropped also on China growth worries, while tight supplies continued to lift the value of soft commodities coffee and cocoa.
Gold extended its recent run higher, reaching a six-month high at US$1,388.11 an ounce on Friday. Gold is regarded as a safe investment in times of economic or political uncertainty.
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