NEW YORK, March 23 U.S. gold and copper futures
rallied in early Friday dealings, spurred by the euro's bounce
back against the dollar as concerns about slowing Chinese and
euro zone growth abated somewhat.
* Gold rose, led by a rebound in the euro, but was still
set for a fourth consecutive weekly loss, due to patchy consumer
demand and evidence of the waning investor appetite for the
metal as confidence in the economic outlook strengthens.
* Spot gold was up around 0.3 percent at $1,649.76 an
ounce by 1105 GMT, having recovered from a low of $1,627.68 on
Thursday, but still on course a 0.6 percent decline on the week,
the fourth weekly loss in a row.
* COMEX April gold added $6.50 per ounce to $1,649.
* Copper rebounded from a two-week low hit the previous
session, helped by a weaker dollar and falling inventories, but
was still on track for a weekly loss as worries over demand
growth in top consumer China and elsewhere lingered.
* Three-month copper on the London Metal Exchange
rose 1.3 percent to $8,403 a tonne by 0943 GMT from a close of
$8,290 on Thursday.
* COMEX May copper futures jumped 5.30 cents to
$3.8205 per lb.
* U.S. new home sales for February are due at 1000 a.m.
EDT/1400 GMT and are forecast to rise to a 325,000 rate from
* The euro recouped losses and global stocks were little
changed below this week's 8-month high while demand for German
government debt rose amid concerns about Chinese and euro zone
* Oil rebounded after Thursday's sell off as supply concerns
underpinned prices despite reassurances from the International
Energy Agency about Saudi supply.
Prices at 8:15 a.m. EDT (1214 GMT)
LAST NET PCT YTD
CHG CHG CHG
US gold 1646.70 4.00 0.3% 5.1%
US silver 31.535 0.190 0.6% 13.0%
US platinum 1617.60 5.50 0.3% 15.6%
US palladium 656.30 5.25 0.8% 0.0%
US copper 379.10 2.55 0.7% 10.3%
(Reporting by Carole Vaporean)