COPPER

Australians voiced relief and surprise after one of the world's most powerful cyclones spared the nation's northeast coast from expected devastation on Thursday, with no reported deaths despite winds tearing off roofs and toppling trees.

Spot gold was bid at $1,328.05 an ounce at 1300 GMT, against $1,336.00 late in New York on Wednesday. U.S. gold futures for April delivery fell $3.90 to $1,328.20. Concerns over the fallout from unrest in Egypt, where six people were killed after supporters of president Hosni Mubarak opened fire on protestors overnight, have underpinned prices, but have not sparked fresh investment, analysts said.

One of the most powerful cyclones on record slammed into Australia's coast on Thursday, uprooting trees, tearing roofs off buildings and raising the danger of deadly storm surges.

The category-five storm, Cyclone Yasi, that has struck Queensland in northeastern Australia (already reeling from deadly floods last month) is likely to hammer global commodity markets, according to media reports.

Gold prices eased a touch in Europe on Wednesday after well received U.S. economic data and a spate of upbeat corporate earnings deflected interest away from bullion on to higher-risk, higher-yielding assets.

The companies whose shares are moving in pre-market trade on Wednesday are: Electronic Arts, Anadarko Petroleum, Freeport-McMoRan, CME Group, Broadcom, Whirlpool, Boston Scientific and Netflix.

The Gold Price ticked higher for Dollar investors Tuesday morning in London, but slipped against other currencies as world stock markets rose and government bonds edged back.

The Chinese government will spend around 30 billion yuan over the next five years on new airport projects in the restless far western region of Xinjiang, state media reported on Monday.

Yunnan Copper Industry (Group), China's third-biggest producer by capacity, added 100,000 tonnes of annual refining capacity this week in Guangdong province.

The main gold exchange-traded fund, the SPDR Gold Trust, recorded its biggest ever one-day outflow on Tuesday. The precious metal is taking some support from physical demand after its slide to its lowest since October 28, but buying interest remains lackluster.

The Gold Price fell to new multi-month lows against all major currencies on Tuesday morning, dropping to $1325 per ounce as capitulation and panic hit Asian investment traders, according to one Hong Kong dealer.

Lately, we've noted the improving sentiment picture for Gold. As a market weakens, sentiment will naturally become less bullish. In this case, sentiment has weakened considerably yet Gold is only 6% off its high. Most interesting in particular is the divergence between the COT data for Gold and Silver and the rest of the commodities.

Gold touched a two-month low in Europe on Friday, pressured by a firmer appetite for assets seen as higher risk on expectations the economic recovery was gaining traction, but a retreat in the dollar prevented a steeper drop.

After a lengthy absence, [other] asset managers and central bankers are readmitting gold back into the group of prudent asset classes, writes Thomas Kaplan, chairman of New York's Tigris Financial advisory and asset-management group, in today's Financial Times.

World stocks reached their highest levels in nearly 2-1/2 years on Wednesday with the MSCI world equity index reaching 1324, the highest since August 2008.

The BSE Sensex nudged up 0.2 percent on Wednesday powered by metal producers on firm world metal prices, but trading was choppy reflecting investor concern about inflation and a looming rate rise.

South African stocks fell on Monday, snapping a four-day advance, with paint company Freeworld Coatings sliding 4 percent after saying a proposed takeover bid by Japan's Kansai Paint was unfair to shareholders.

Uganda's shilling looks set to plumb new record lows against the dollar over the next week due to soaring foreign exchange demand from the oil sector, while Kenya's unit should strengthen slightly.

The Gold Price in Dollars slid to a near 6-week low in early London trading on Friday, dropping below $1360 an ounce, but then bounced back to $1369 as New York trading began and Non-Farm Payrolls showed a rise of 103,000 - below analyst forecasts - and the labor-force participation rate slipped further below two-in-three.

The top pre-market NASDAQ stock market gainers are: Qiao Xing Universal Resources, Glu Mobile, Ku6 Media, NVIDIA, Microvision, and Atheros Communications. The top pre-market NASDAQ stock market losers are: Tekelec, Logitech International, ASML Holding, Siliconware Precision Industries, and Sinovac Biotech.

With the growth in the number of plants being built and the increasing cost competitiveness, 2011 looks like solar energy could start to come into its own in the U.S.