Global oil prices jumped last week on keen US demand and geopolitical worries, while coffee and sugar soared on weather-related supply fears in
Gold also forged notable peaks on strong haven demand as investors sought safety amid the uncertain global economic outlook, analysts said.
Crude futures leapt to a four-month pinnacle on the back of US winter weather and more turmoil in oil exporters
"Brent crude held above
US prices also got a boost from the release of the minutes of the Federal Reserve's end-January policy meeting, which showed the central bank relatively bullish on the economy and a growing minority advocating early policy tightening. On Wednesday, US crude struck the highest level for four months at
Commercial crude inventories rose by 1.0 million barrels in the week ending
By Friday on
Sister metal silver notched up a similar peak at
"An increase in interest amongst Asian buyers has seen a support in the current level of demand in the physical market," said CMC Markets analyst
Last year demand from
That was ahead of Indian demand of 974.8 tonnes, according to the council representing leading gold producers. The switch of places at the top of the ranking reflects in part a decision by the Indian government to reduce the importation of gold to help reduce a huge trade deficit.
By late Friday on the London Bullion Market, the price of gold rallied to
Silver jumped to
On the London Platinum and Palladium Market, platinum grew to
Most base or industrial metals advanced on supply-side concerns, but gains were tempered by Chinese data.
"The (aluminium) price was doubtless driven up by announcements by leading aluminium producers that production capacities are to be shut down," said
It also reported a net 2013 loss of €370 million (
By Friday on the
The price of coffee vaulted to the highest level for more than one year, fuelled by fears over falling harvests in top producer
"There's no end to the crazy situation on the Arabica coffee market," said
By Friday on ICE Futures US, Arabica for delivery in May stood at 172.20 US cents a pound compared with
Prices advanced to their highest levels in about two months on Wednesday, plagued by drought conditions in major producer
"Futures were sharply higher ... as traders worried about the drought in
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