COMMODITIES-Copper gains on China cenbank assurance; gold down

Tue Jun 25, 2013 5:49pm EDT

By Barani Krishnan
    NEW YORK, June 25 (Reuters) - Copper closed higher on
Tuesday, recovering from a three-year low earlier in the day, as
China's central bank sought to soothe fears of a credit crunch
in the world's top metals consumer, while oil finished flat and
gold fell amid a stronger dollar.
    Crop prices mostly rose.
    Cocoa finished higher as it found technical support a
day after hitting a 2-1/2-month low. Raw sugar edged up
for a third straight day, underpinned by unfavorable harvest
weather in top grower Brazil. 
    Soybean futures rose for a second straight session,
supported by firm cash prices as domestic processors use
supplies from last year's drought-hit harvest. 
    The 19-commodity Thomson Reuters-Jefferies CRB index
 rose 0.2 percent, recouping all it lost on Monday.
    Benchmark three-month copper on the London Metal Exchange
 closed at $6,805 a tonne, versus Monday's $6,670. During
the session, it hit $6,602, its lowest since July 2010.
    In oil, the closely watched Brent crude out of Europe's
North Sea settled up 10 cents at $101.26 a barrel after
a sluggish day of trading. 
    Gold eased as a raft of positive U.S. housing and consumer
confidence data lifted the dollar for a fifth straight day and
reinforced expectations the Federal Reserve would rein in its
monetary stimulus program in the next few months.
    The spot price of gold was down $5.93, or 0.46
percent, at $1,275.09 an ounce at 3:28 p.m. EDT (1928 GMT), off
an earlier high of $1,288.80. 
    The dollar rose 0.2 percent against a basket of major
currencies. 
    
 Prices at 5:19 p.m. EDT (2119 GMT)      
                              LAST/      NET    PCT     YTD
                              CLOSE      CHG    CHG     CHG
 US crude                     95.25     0.07   0.1%    3.7%
 Brent crude                 101.15    -0.01   0.0%   -9.0%
 Natural gas                  3.647   -0.092  -2.5%    8.8%
 
 US gold                    1275.10    -2.00  -0.2%  -23.9%
 Gold                       1276.69    -4.60  -0.4%  -23.7%
 US Copper                     3.07     0.05   1.6%  -15.9%
 LME Copper                 6795.00   125.00   1.9%  -14.3%
 Dollar                      82.599    0.174   0.2%    7.6%
 CRB                        278.019    0.542   0.2%   -5.8%
 
 US corn                     656.75     3.50   0.5%   -5.9%
 US soybeans                1525.25    13.25   0.9%    7.5%
 US wheat                    675.75    -3.25  -0.5%  -13.1%
 
 US Coffee                   120.25     0.80   0.7%  -16.4%
 US Cocoa                   2191.00    22.00   1.0%   -2.0%
 US Sugar                     17.07     0.06   0.4%  -12.5%
 
 US silver                   19.526   19.331   1.5%  -35.4%
 US platinum                1350.50    21.40   0.0%  -12.2%
 US palladium                667.15    11.05   1.7%   -5.1%
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