Monday, April 23, 2007

Metals See Lackluster Trading Early Monday; Gold Falls, Copper And Silver Generally Flat, Monday, April 23, 2007 10:11:05 AM

Metals showed lackluster trading during the opening stages of Monday`s U.S. session. Generally, trading began with some weakness, but most of the metals found their footing during the mid-morning. Gold remained weak, but copper and silver were largely unchanged from Friday`s levels.

Copper retreated at the outset of U.S. trading, but recovered during the next 40 minutes. By the mid-morning, the metal was holding a mild gain, up half a cent to $3.626 per pound. With the uncertain move, copper remained in a recent trading range that has kept it close to a high it set last week.

The price of gold retreated during early U.S. trading. The metal attempted to recovery after an initial slide, but spent the mid-morning drifting lower. By 10 am Eastern Time, gold was down $3.40 to $692.40 per ounce.

Silver was little changed in the opening stages of Monday`s U.S. trading. Like the other metals, silver slipped at the outset of trading. However, there was a rebound soon after and silver spent the first 90 minutes of trading hovering near last Friday`s closing price. By the mid-morning silver was down 3 cents to $13.92 per ounce.
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