By Craig James
Over the week, base metal prices were mixed with aluminium up 2. 9 per cent with zinc down by 2. 3 per cent. Gold prices fell slightly on Friday with the Comex gold futures quote down by $US1. 50 or 0. 1 per cent to $US1,311. 00 per ounce.
Over the week gold rose by $US16. 50 an ounce. Iron ore fell by US30c on Friday or 0. 3 per cent to $US95. 70 a tonne.
Brent crude fell by US42c or 0. 4 per cent to $US105. 02 a barrel but the US Nymex price rose by US31 cents a barrel to $US97. 65 a barrel.
In Chinese economic data, producer prices fell 0. 9 per cent over the year to July, while consumer prices rose by 2. 3 per cent, both as expected.
In US economic data, labour costs rose at a 0. 6 per cent annual rate in the June quarter while productivity rose by 2. 5 per cent.
Read more here: Business Spectator