(Kitco News) - After two weeks of consolidation, gold is attracting some new bullish attention after holding initial support at around $2,300 an ounce, noted mining audiences manager Michael McCrae.
On Saturday, McCrae recorded Kitco Roundtable.
Bouncing off its lows at the start of the week, gold hit a two-week high finishing the week at $2,360 level, up about $30 for the week. Silver has managed to push back above $28 an ounce after holding critical support levels, according to Editor Neils Christensen.
Copper soared finishing the week near $4.65 a pound. In another measure, copper broke through the magic $10,000 a ton level. Copper could face headwinds with Chinese manufacturers refusing to pay high copper prices.
Reuters reported that the Philippines wants to add three more processing plants in an "effort to develop a downstream industry for its abundant nickel resources, after nations such as China and the United States expressed interest in the mining sector."
Kitco Roundtable is sponsored by Snowline Gold.
