LONDON: Gold rose in Europe on Friday as the dollar slipped versus a basket of currencies. Spot gold was bid at $956.70 an ounce at 1318 GMT, against $953.50 an ounce late in New York on Thursday. US gold futures for December delivery on the COMEX division of the New York Mercantile Exchange rose $2.70 to $959.20. Among other precious metals, silver was lifted to a two-month high due to the rise in gold prices and a sharp rally in copper in Asia overnight. It jumped to a two-month high of $15.16 an ounce earlier in the session and was later bid at $15.03 an ounce against $15.00. Platinum was at $1,265 an ounce against $1,265, while palladium was at $278 against $274.
Copper rises: Copper rose to a fresh 10-1/2 month high on Friday before retreating slightly. Copper for three-months delivery on the London Metal Exchange traded at $6,399 a tonne in LME rings from a close of $6,395 on Thursday. Among other industrial metals, aluminium traded at $2,050 a tonne from $2,060. Latest LME data showed stocks fell by 5,250 tonnes, but remained near a record of around 4.6 million tonnes. Tin was last bid at $15,050 a tonne from $15,145. Traders remain concerned about the scale of long or buy positions in the tin market, compared with the amount of available metal in LME warehouses. Zinc, used to galvanise steel, was last bid at $1,900 from $1,910, battery material lead traded at $1,918 from $1,935, while nickel, used to make steel, traded at $20,825 from $20,605. reuters
