Metal market

$Gold(BK2110.US)$ $Aluminum(BK2211.US)$ Gold prices recorded their biggest one-day increase in three weeks, and the Fed and the Bank of England said they were not in a hurry to raise interest rates. Spot gold closed up 1.3%, at $1,791.7 per ounce. US gold futures for December delivery rose 1.7% to $1,793.50 per ounce.

Aluminum prices plummeted because China, the largest aluminum producer, said that its coal production has increased significantly and will continue to increase, helping to alleviate the power crisis that has forced aluminum plants to reduce production. At 1743 GMT, the London Metal Exchange (LME) index futures aluminum fell 3.7% to US$2,559 per ton. LME copper fell 0.3% to 9,434 US dollars per ton.

Article excerpted from Reuters Financial Morning Post