Nickel that failed to meet London Metal Exchange specifications was stored in a Rotterdam warehouse operated by Access World, the Swiss-based company said on Tuesday, adding it was inspecting bags of nickel briquettes in all locations.
By Eric Onstad. Copper prices climbed on Tuesday on signs of firmer demand, less disquiet over the global banking sector and hopes that the U.S. central bank will scale back increases to interest rates. Three-month copper on the London Metal Exchange gained 1.6% to $8,833.50 a tonne by 1115 GMT, having fallen into the red earlier in the session.
Gold traded at record highs in some currencies on Monday and neared all-time peaks in U.S. dollar terms after banking sector turmoil sent prices of the safe haven asset rocketing 10% in a matter of days. Banking stocks and bonds continued to plummet on worries that more problems may emerge after several U.S. banks and Switzerland's Credit Suisse collapsed or required rescue.
Copper prices rose in volatile trade on Monday, supported by a weaker dollar and signs of improving demand from top consumer China. Benchmark copper on the London Metal Exchange was up 1% at $8,665.0 a tonne by 1051 GMT, having fallen by 3.2% last week.
* Market's eyes on Fed policy meeting next week. * Gold to shine through the chaos -analyst. * All precious metals head for weekly gains. * Gold touches 11-month peak. By Bharat Gautam.
* ECB pushes through 50 bps rate hike despite market turmoil. * Traders see Fed raising rates by 25 bps next week. By Ashitha Shivaprasad. Gold prices edged higher on Thursday, bouncing towards last session's 1-1/2 month peak as concerns about the banking crisis continue after the European Central Bank hiked interest rates despite the ongoing financial stability risks.
Elliott Investment Management on Thursday raised its stake in gold-focused streaming and royalty firm Triple Flag Precious Metals Corp (TFPM) to 67% from 64.7%. The hedge fund acquired 4.7 million shares in Triple Flag at C$16.50 per share. Triple Flag provides upfront financing to miners in exchange for a share of future revenue or production.
* * Traders see Fed raising rates by 25 bps next week. By Seher Dareen. Gold edged higher on Thursday, helped by a weaker dollar, but prices held below last session's 6-week peak as risk sentiment improved after Credit Suisse, the latest focal point of a potential banking crisis, secured funds.
* Flagship Swiss bank Credit Suisse's shares slump. * U.S. Treasury yields tumble, dollar soars. * Platinum, palladium also pressured by risk-off mood. * Market largely pricing in Fed pausing rate hikes. By Bharat Gautam.
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