The relief shown in equity markets at the relative good news around the August jobs data spilled over into commodities in the US Friday.
For example, Comex December copper rose on the day to finish the week up 3.4% and the LME Index, which measures the price of six major metals, closed with a gain of 2.6%.
Comex copper ended at $US3.50 a pound in New York. That was up less than half a cent.
But the price had been over $US3.53 in earlier trading on Friday.
Oil was a touch weaker when, if copper was the guide, should have been stronger.
Nymex October crude fell 42c to $US74.60 in New York on Friday.
That left oil down around 0.8% for the week, compared with the 2%-plus rise the week before.
That survey of non-manufacturing business (down to 51.5 in August from 54.3 in July, with 50 the dividing line between expansion and contraction) knocked some of the earlier confidence out from the jobs market report
The August reading was the weakest since the start of the year.
There will be no floor trading on the Nymex tonight because of the US Labor Day holiday.
In London, Brent crude oil for October settlement slipped 26 USc, or 0.3%, to close at $US76.67.
Gold prices fell off the back of the upturn in equities.
Comex December gold fell $US2.30, or 0.2%, to settle at $US1,251.10 an ounce on Friday.
That was still within sight of the record $US1266.50 an ounce in June.
Friday’s close left the price up 1.1% for the week, the 5th weekly gain in a row.
Comex December silver 27.7 USc, or 1.4%, to $US19.949 on the Comex.
Silver was up 4.6% for the week, the second weekly gain in a row.
