Commodity prices were mixed this week in volatile trading as markets tracked a worsening economic outlook and rising expectations that Greece faced a default on its debt.

PRECIOUS METALS: Gold¡¯s record-breaking run upward was halted by a stronger US dollar, which made the metal more expensive for buyers holding euros ¡ª denting investor demand.

¡°Although prices might first encounter a soft patch, gold could rally through the US$2,000 mark by year-end,¡± GFMS said in its Gold Survey 2011. It said it expected this ¡°to mainly arise through further growth in investment.¡±

By late on Friday on the London Bullion Market, gold fell to US$1,794 an ounce, from US$1,851 the previous week.

Silver dropped to US$39.97 an ounce from US$41.40.

On the London Platinum and Palladium Market, platinum retreated to US$1,798 an ounce from US$1,842.

OIL: Crude futures rose during a trading week dominated by a weak outlook for energy demand amid slowing economic growth.

¡°The global economic situation has also dampened oil demand growth,¡± analysts at research group JBC Energy said in a market note on Friday.

By late Friday on London¡¯s Intercontinental Exchange, Brent North Sea crude for delivery in November stood at US$113.43 a barrel, compared with US$112.19 for the October contract a week earlier.

On the New York Mercantile Exchange, West Texas Intermediate (WTI) or light sweet crude for October, rose to US$88.11 a barrel from US$86.66 a week earlier.

BASE METALS: Prices of base metals diverged.

On Friday on the London Metal Exchange (LME), copper for delivery in three months fell to US$8,793 a tonne from US$8,883 the previous week.

Three-month aluminium rose to US$2,381 a tonne from US$2,375.

Three-month lead dropped to US$2,404 a tonne from US$2,443.

Three-month nickel advanced to US$21,700 a tonne from US$21,450.

COCOA: New York prices hit the lowest levels this year, striking US$2,776 a tonne, owing to high stockpiles in Ivory Coast and Ghana.

By Friday on LIFFE, London¡¯s futures exchange, cocoa for delivery in December fell to ¡ê1,813 a tonne from ¡ê1,862 the previous week.

SUGAR: Sugar retreated on expectations that this year¡¯s to next year¡¯s season would see the first major surplus in three years.

Friday on NYBOT-ICE, the price of unrefined sugar for delivery next month slipped to US$0.29 a pound from US$0.291 the previous week.

On LIFFE, the price of a tonne of white sugar for December stood at ¡ê708 compared with ¡ê767 for the October contract the previous week.

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