Commodities markets summary
Market watch top headlines
A summary of trading in key commodities markets overseas:
Oil prices were mixed on Thursday after positive Chinese manufacturing data and as the United States prepared to update markets on the levels of its energy stockpiles.
Brent North Sea crude for delivery in March fell 41 US cents to stand at $113.21 a barrel in London late trade.
New York's main contract, WTI light sweet crude for March closed 72 US cents higher at $US95.95 a barrel.
Gold futures settled at their lowest level in more than a week as some investors were spooked by improvement in the US labour market while others cut back gold holdings in frustration over the metal's lacklustre performance.
The most actively traded contract, for February, on Thursday fell $US16.80, or one per cent, to settle at $US1,669.90 a troy ounce on the Comex division of the New York Mercantile Exchange. This was the lowest settlement price since January 14, when gold ended at $US1,669.40.
Silver and platinum also fell but rose 50 US cents to $726.70.
Base metals closed mixed on the London Metal Exchange (LME) after positive economic data from the US helped to lift some members of the complex from earlier lows.
At the close of open-outcry trading on Thursday, LME three-month copper, the flagship of the group, was 0.1 per cent lower on the day at $US8,095.50 a metric ton. Lead prices had sustained the resilience they have shown in recent sessions, closing 1.4 per cent higher on the day at $US2,403/ton.
Earlier in the session, most industrial metals had traded lower on the day, after the complex reacted negatively to a downbeat assessment of the global economic outlook from the International Monetary Fund on Wednesday.
Negativity was also in part fuelled somewhat counterintuitively by a positive purchasing manager's index reading from key industrial metal consumer China, which analysts said cast a shadow over hopes for economic stimulus from the nation.