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Weekly Commodity Review
Gold at near 25-year high, lead hits all-time record

          LONDON, Dec10 (AFP): Gold prices struck the highest level for almost 25 years this week as lead hit an all-time high of 1,115 dollars per tonne Friday.
The Commodities Research Bureau's index of 17 commodities rose to 331.57 points Friday from 322.11 points the previous week.
GOLD: Gold prices hit 530.75 dollars per ounce Friday, the highest point since April 1981, as investors flocked to the safe- haven amid global inflationary pressures.
On the London Bullion Market, gold prices surged to 525.50 dollars per ounce at the late fixing Friday from 499.75 dollars the previous week.
SILVER: Silver prices breached 9.0 dollars per ounce for the first time since May 1987. They touched 9.005 dollars briefly Friday-a 5.0-per cent gain in one week-before succumbing to profit-taking.
On the London Bullion Market, silver prices rose to 8.97 dollars per ounce at the late fixing Friday from 8.535 dollars the previous week.
PLATINUM AND PALLADIUM: Platinum prices hit a new 25-year high of 1,008 dollars per ounce. Palladium breached 300 dollars for the first time since April 2004 in the wake of its sister metal.
On the London Platinum and Palladium Market, platinum climbed to 1,004 dollars per ounce at the late fixing Friday, from 1,000 dollars the previous week.
Palladium stood at 297 dollars per ounce, from 266 dollars.
BASE METALS: Copper prices reached a historic record, as did lead, while aluminium hit nearly a 17-year high.
Copper Friday struck an all-time high of 4,472.25 dollars per tonne and has risen by 40 per cent since January.
Among other base metals, lead hit an all-time high of 1,115 dollars per tonne Friday.
Aluminium hit 2,273 dollars per tonne, the highest point since early 1989 and nickel performed strongly on supply concerns.
Three-month nickel prices soared to 14,150 dollars per tonne from 12,700 dollars.
Three-month zinc prices increased to 1,845 dollars per tonne from 1,741 dollars.
Three-month tin prices advanced to 6,825 dollars per tonne from 6,400 dollars.
OIL: Crude futures Friday breached 61 dollars per barrel in New York and almost 60 dollars in London-levels not reached since November 4.
New York's light sweet crude for January delivery rose to 60.50 dollars per barrel Friday from 58.85 dollars the previous week.
In London, Brent North Sea crude for January delivery climbed to 58.66 dollars per barrel Friday from 56.34 dollars.
RUBBER: Rubber prices rebounded as rain fell in Asian producing countries.
On TOCOM, Tokyo's commodity exchange, natural rubber for February delivery jumped to 213.50 yen Friday, from 195.30 yen a week earlier.
Singapore's RSS 3 January contract advanced to 168.75 cents Friday, from 161.25 cents.
COCOA: Cocoa futures fell despite the likelihood of weak harvests.
On the New York Board of Trade (NYBoT), the March contract slid to 1,456 dollars per tonne Friday from 1,468 dollars.
COFFEE: Coffee prices edged ahead.
On LIFFE, Robusta quality for January rose to 1,088 dollars per tonne Friday, compared with 1,069 dollars a week earlier.
On NYBoT, Arabica for March delivery stood at 96.40 cents per pound Friday, from 96.25 cents.
SUGAR: Sugar futures struck a fresh 10-year-plus high in New York and an eight-year peak in London on expectations of strong demand for ethanol made in Brazil.
The price of sugar in New York reached 13.69 cents per pound Thursday-the highest level since April 1995.
In London, prices rose to 336 dollars per tonne, the highest level since July 1997.
On NYBot, the price of unrefined sugar for March delivery advanced to 13.65 US cents per pound Friday, from 12.92 cents.
GRAINS AND SOYA: Grains and soya prices showed mixed fortunes with traders looking to weather patterns for direction.
On LIFFE, the price of a tonne of wheat for January delivery dipped to 69.00 pounds late Friday, from 69.75 pounds a week earlier.
On the Chicago Board of Trade, the price of wheat for December delivery fell to 2.95 dollars per bushel Friday, from 3.05 dollars.
Maize for December delivery eased to 1.8600 dollars per bushel Friday, from 1.9050 dollars.
Soyabeans for January delivery stood at 5.64 dollars per bushel Friday, from 5.65 dollars.
COTTON: Cotton prices rebounded as strong demand offset the US government's higher production estimate.
On the New York Cotton Exchange (NYCE), the March contract climbed to 52.20 US cents per pound Friday, compared with 51.66 cents.
The Cotton Outlook Index of physical cotton stood at 55.90 cents Thursday, from 55.80 cents the previous Thursday.
WOOL: Wool prices dipped as a stronger Australian dollar made exports more expensive for buyers abroad.
The Australian Eastern index fell to 6.40 Australian dollars per kilo Thursday, from 6.48 dollars the previous Thursday.
The British Wooltops index eased to 397 pence Thursday from 398 pence the previous Thursday.


  More Headline
Gold at near 25-year high, lead hits all-time record
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US ready to lift ban on Japanese beef
African cotton exporters take on West over killer subsidies
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Latin leaders launch study for north-south gas pipeline
US to offer more cotton market ideas at WTO
Asian forex markets rework their bets

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