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SMM Morning Review - 2010/1/5 Lead Market
Jan 5,2010 10:35CST
smm insight

SHANGHAI, Jan. 5 (SMM) -- LME lead prices jumped above USD 2,500/mt following a weaker US dollar, with positions down by more than 1,000 lots. LME lead prices managed to secure the upward momentum, supported by bullish sentiment in other base metals markets. 

In neighboring markets, the US dollar fell back on Monday, since the optimistic outlook towards economic recovery encouraged investors to seek riskier investments at the expense of the green back. The US dollar index dropped to 77.516 as a result. Gold futures on the COMEX gained more than 2% on Monday. Gold futures for February delivery closed USD 22.10 higher at USD 1,118.3 per ounce following brisk buying interest at the earlier year. Silver futures for March delivery ended at USD 17.463 per ounce, up 61.8 cents.


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