Un-Favorable Day For Copper, Gold And Crude Oil

Copper declined today on the speculation that demand from Japanese car-makers will fall. The earthquake on March 11 and the subsequent tsunami and the radiation leak from the damaged nuclear power plant have put strain on Japan’s economy and decrease demand for automobiles in Japan.

May futures for copper delivery dropped $0.069 to $4.35 per pound as of 13:12 on COMEX.

Gold weakened today on the signs of the economic recovery on the US. The report today showed that the income and spending of the US consumers increased in February while the nonfarm payrolls later this week is expected to show a significant increase of the employment.

The good economic fundamentals erode demand for the precious metal as a safe haven. June futures for gold delivery went down $6.30 to $1,421.30 by 13:30 on COMEX.

Crude oil fell today on the outlook that the disaster in Japan and the sovereign debt crisis in Europe will diminish demand for the fuel. Crude also dropped on the hopes that the military success of the rebels in Libya will bring closer the end of the conflict and will remove the uncertainty about supplies of oil from the country.

May futures for crude oil delivery weakened by 0.9 to $ 104.50 per barrel in electronic trading on NYMEX.

Tattoo in real gold

A new business in Dubai is offering temporary 24-carat gold tattoos as the ideal body adornment for weddings and other special occasions at a modest starting price of $50, an affordable option given rising gold prices. Precious Skin has two outlets in Dubai - one at the luxury, sail-shaped Burj Al Arab hotel - which will design and apply body tattoos made of 99.9 percent gold or platinum to add a bit of glitz to your personal style.

"It's a revolution in the body art business, it's the first time we can use 24 carat gold and platinum on skin," said Arnaud Flambeau, managing director of Flambeau Luxury Trading and Precious Skin.

"We have had a lot of interest so far because it's a new idea and a new product that's between jewelry, makeup and accessories and it's a lot easier to make the decision to get a gold tattoo than buy new jewelry," said Flambeau. A thin film of gold or platinum is used to make the tattoo which is then applied to the skin and can last for up to a week, he said.

"More elaborate and larger designs can cost up to $5,500, and the idea really is just to have something that is very unique and new," Flambeau said.