Base metal commodity markets rebound back on Friday (May 21) after a brutal downbeat week caused by worries about lingering sovereign debt crisis in Europe, slower Chinese growth prospects and German and U.S. trading regulation moves. Copper rallied on Friday, extending a bounce from the previous session's near four month low with the help of a retreating dollar and ended at 6,665 dollars per tonne from a close of 6,530 dollars on Thursday (May 20) which was recovered from a 15-week low following the concerns about Europe's debt crisis. Similarly, gold prices steadied on London market, arresting a slide that took it to two-week lows earlier in the session, as lower prices tempted some buyers back to the market amid persistent fears over the euro zone debt crisis. The correction in prices is also likely to bring more demand for physical gold, in the form of coins, bars and jewellery. An analyst said, "It's good to have a healthy consolidation, so that the physical market comes back into line."
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