- Copper prices fell from the prior session’s five-week high on Tuesday, but losses were limited amid speculation Chinese metal producers will scale back production to combat falling prices.Copper for March delivery on the Comex division of the New York Mercantile Exchange shed 1.4 cents, or 0.64%, to trade at $2.126 a pound during morning hours in London.
- Oil prices regained ground on Tuesday, one day after sinking to multi-year lows on the back of ongoing concerns over a global supply glut.On the ICE Futures Exchange in London, Brent oil for February delivery tacked on 25 cents, or 0.69%, to trade at $36.60 a barrel during European morning hours. A day earlier, prices fell to $36.04, a level not seen since July 2004.
- Gold inched lower after a sharp two-day rally on Tuesday, as investors looked ahead to key U.S. economic data later in the session for further indications on the strength of the economy.Gold for February delivery on the Comex division of the New York Mercantile Exchange shed $3.30, or 0.31%, to trade at $1,077.30 a troy ounce during European morning hours.
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