LONDON: Gold firmed on Thursday as persistent fears over eurozone debt levels underpinned prices, though a recovery in risk appetite kept the metal below the previous session’s 2010 highs. Gold on Wednesday hit its highest this year at $1,174.18 an ounce after Standard & Poor’s cut its credit ratings on Spain, a day after downgrading the ratings for Greece and Portugal. Spot gold was bid at $1,167.25 an ounce at 1414 GMT, against $1,164.45 late in New York on Wednesday. U.S. gold futures for June delivery on the COMEX division of the New York Mercantile Exchange dipped $3.90 to $1,167.90. Among other precious metals, silver was at $18.18 an ounce against $18.06, platinum at $1,713 an ounce against $1,707, and palladium at $546.50 against $538.50.
Copper edges up: Copper edged up on Thursday as fears over sovereign debt in the Eurozone ebbed slightly and investors eyed improved demand prospects, especially in the United States. Benchmark copper for three-months delivery on the London Metal Exchange traded at $7,425 in official midday rings from a close of $7,400 on Wednesday. reuters
