Dhaka, Bangladesh (BBN) – Crude oil futures for September delivery surged during the week. Increased industrial activity and a decrease in US fuel inventories drove Crude oil prices above USD 70 level in the New York Mercantile Exchange.
Copper futures advanced during the week reaching near a ten-month high of USD 6,131 per metric ton in the London Metal Exchange.
Stimulus effort by the government and upbeat US housing sales data bolstered demand for industrial metals. Aluminium closed at USD 2,005 per ton, a rise of 12.94 percent compared to last week, according to reports.
Gold advanced to a two-month high of USD 964.65 per ounce, a gain of 3.63 percent over last week, on a declining dollar extending through the week. Economic recovery optimism reduced demand for the greenback
BBN/SS/SI/AD-07August09-10:09 pm (BST)