RTRS: US gold down on profit taking, copper higher
Feb 24 (Reuters) - U.S. gold futures fell Friday as
investors took profits after rallies from earlier this week,
while copper futures climbed on a weaker dollar.
FUNDAMENTALS
* U.S. gold futures retreated, shrugging off gains in the
euro and struggling to maintain traction after this week's
already hefty price climb, as buyers favoured assets seen as
higher risk such as stocks and industrial commodities.
* U.S. copper futures rose as the dollar fell against the
euro, with the metal on track to post its biggest weekly gain in
a month.
* Caution about the outlook for economic growth and demand
from top consumer China capped further gains for the industrial
metal.
ECONOMY
* U.S. new home sales for January. 10 a.m. EST (1500 GMT)
MARKETS
* European stocks and 'the euro gained on optimism over
global growth but higher oil prices and the euro zone debt
crisis tempered the rise.
* Crude oil rose and headed for its fifth straight weekly
gain on tension between Iran and the West over the Islamic
Republic's nuclear program.
