Reuters reported that US gold futures slipped as the dollar recovered and copper eased more following its weaker performance in the previous session.
Fundamentals;
1. Gold prices slipped under USD 1,680 an ounce, extending a fall from 2 week highs into a third session as the dollar recovered from near a one-month low and crude oil values turned lower.
2. Copper was off following 2% fall in the previous session although doubts over demand in China and the pace of economic recovery in the US made investors cautious.
3. China's Minmetals Resources plans to use its CAD 1.3 billion Anvil Mining acquisition as a platform to buy more copper assets in central and southern Africa.
4. South Korea's Hyundai Steel expects the steel market to recover in the second half of this year led by a pickup in automobiles and construction despite high oil prices, weak Chinese demand and euro zone debt issues.
