Oil and metals prices posted strong gains this week as traders tracked tensions from the Middle East to Chile, while coffee futures reached their highest peak for more than six years in London on supply concerns.
On Friday, the Commodities Research Bureau's index of 17 commodities rose to 351.05 points, from 345.13 points the previous week.
GOLD: Gold prices climbed as the dollar fell and the oil prices rallied.
Gold's push higher was "triggered by a move back above 75 dollars per barrel by oil and a weakening of the dollar as Israeli forces pushed deeper into the Lebanese security zone and resumed air strikes against Hezbollah targets", said James Moore, analyst for specialist website TheBullionDesk.com.
Violence in the Middle East is supporting oil prices, and threatens to fuel inflation. However gold is seen as a good hedge against rising costs.
Meanwhile a weaker dollar makes dollar-denominated gold cheaper for buyers holding other currencies.
On the London Bullion Market, gold prices jumped to 652.25 dollars per ounce at Friday's late fixing, from 637.10 dollars a week earlier.
SILVER: Silver prices reached the highest point for more than two months in the wake of gains by other metals.
Silver struck 12.58 dollars per ounce on Friday - the highest point since May 31.
"The technical buying following the metal's break of 12 dollars has been strong but the industrial precious metal now needs to make a convincing break above 12.25 dollars to avoid stalling and slipping back," Moore said.
On the London Bullion Market, silver prices gained to 12.20 dollars per ounce at Friday's fixing, from 11.34 dollars the previous week.
PALLADIUM AND PLATINUM: The sister metals advanced, helped by gains for gold and a weaker dollar.
"More range play looks set for both metals short-term, however gold's recent rally and platinum's bullish fundamentals should provide support," Moore said.
On the London Platinum and Palladium Market, platinum rose to 1,241 dollars per ounce at the late fixing Friday, from 1,215 dollars the previous week.
Palladium climbed to 323 dollars per ounce on Friday from 313 dollars the previous week.
BASE METALS: Base metals prices mainly climbed as concerns intensified over a possible strike at the world's biggest copper mine in Chile.
Owners of the Escondida mine held last-ditch talks with workers Friday aimed at averting a strike planned for Monday over a wage row.
On Friday, three-month copper prices on the LME gained to 7,740 dollars per tonne from 7,590 dollars the previous week.
Three-month aluminium prices rose to 2,526 dollars per tonne from 2,506 dollars.
Three-month nickel prices climbed to 25,400 dollars per tonne from 24,705 dollars.
Three-month lead prices advanced to 1,127 dollars per tonne from 1,085 dollars.
Three-month zinc prices increased to 3,435 dollars per tonne from 3,282.50 dollars.
Three-month tin prices fell to 8,305 dollars per tonne from 8,450 dollars.
OIL: World oil prices rebounded owing to supply concerns fuelled by hurricane fears and violence in the Middle East and Nigeria.
Crude futures gained more than 4.0 percent at the start of the week to 77.47 dollars in London and 76.50 dollars in New York.
Concerns that violence in Israel and Lebanon could spread to Iran and other major crude-producing nations in the Middle East saw oil prices soar to all-time highs above 78 dollars last month.
Oil prices spiked on Wednesday as traders fretted over the threat of hurricanes damaging oil and gas rigs in the Gulf of Mexico.
The jump also followed news that US crude oil and gasoline reserves fell last week and as headlines suggested no let-up in the Israeli-Lebanese crisis.
Prices fell on Thursday though since concerns eased over Tropical Storm Chris becoming a hurricane and as British Prime Minister Tony Blair argued that an agreement to end the conflict in Lebanon between Israeli and Hezbollah forces could be only days away.
In Nigeria, meanwhile, three Filipinos oil workers were abducted Friday, a day after a German national was kidnapped, an oil industry source said.
Since January, attacks in Nigeria on oil facilities and personnel by separatist militants and communities have cut oil exports by one quarter from the world's sixth-biggest oil exporter.
At about 1600 GMT on Friday in New York, a barrel of crude for delivery in September jumped to 75.05 dollars per barrel from 73.05 dollars the previous week.
In London, a barrel of Brent North Sea crude for delivery in September surged to 76.39 dollars per barrel, from 73.45 dollars.
RUBBER: Rubber prices rallied as rain returned to producer nations in Asia.
"There was some rain in Asia, mainly in the growing regions in Thailand, which changed the sentiment towards the rubber market," said Corrie MacColl trader Rashid Ahmed. "It is affecting production."
On TOCOM, Tokyo's commodity exchange, natural rubber for December delivery rebounded to 270.40 yen per kilogramme on Friday, from 266.40 yen a week earlier.
Singapore's RSS 3 October contract gained to 230.75 US cents per kilogramme on Friday, from 224 US cents a week earlier.
COCOA: Cocoa prices steadied.
"The (London) market is still consolidating after funds liquidated positions following the expiry of the July contract last month," Sucden analyst Michael Davies said.
On the LIFFE, London's futures exchange, the price of cocoa for September delivery dipped to 851 pounds per tonne on Friday, from 859 pounds a week earlier.
On the New York Board of Trade (NYBoT), the September contract increased to 1,537 dollars per tonne on Friday, from 1,499 dollars a week earlier.
COFFEE: Coffee prices struck the highest point for six and a half years in London on concerns over tight supplies.
On Thursday, Robusta quality coffee rose above 1,400 dollars per tonne - a level last seen at the end of 1999.
"The gains have been triggered... on concerns about tight Robusta supply," Davies said.
On LIFFE, Robusta quality for September delivery gained to 1,353 dollars per tonne on Friday, from 1,272 dollars a week earlier.
On NYBoT, Arabica for September delivery advanced to 105.70 US cents per pound on Friday, from 99.10 cents.
SUGAR: Sugar prices extended losses, hitting 426.10 dollars per tonne in London on Thursday - the lowest point since the start of 2006.
"Sufficient supplies and weak physical demand are weighing on the market," Davies said. "The fundamentals remain bearish amid large sugar crops around the world, especially in Brazil, Russia, India and Thailand."
On LIFFE, the price of a tonne of white sugar for October delivery dropped to 432 dollars, from 439.50 dollars a week earlier.
On NYBot, the price of unrefined sugar for October delivery declined to 14.39 US cents per pound, from 14.88 cents.
GRAINS AND SOYA: Grains and soya prices rose as traders continued to take their leads from weather conditions in major producer the United States.
The United States Midwest region experienced dry weather at the start of the week, leading to higher grains prices since it is deemed unfavourable for harvests.
On the Chicago Board of Trade, the price of wheat for September delivery advanced to 4.00 US dollars per bushel on Friday, from 3.88 dollars a week earlier.
Maize for September delivery increased to 2.47 dollars per bushel on Friday, from 2.37 dollars.
August-dated soyabean meal - used in animal feed - rose to 5.79 dollars per tonne on Friday, from 5.76 dollars.
On the LIFFE, the price of a tonne of wheat for November delivery climbed to 81.45 pounds on Friday, from 81 pounds.
COTTON: Cotton prices rose to the highest level for one and a half months, supported by prospects of a smaller US harvest owing to drought conditions.
On the New York Cotton Exchange (NYCE), the December contract stood at 56.75 US cents per pound on Friday, from 55.45 US cents a week earlier.
The Cotton Outlook Index of physical cotton increased to 59.10 US cents on Thursday, from 57.45 US cents a week earlier.
WOOL: Wool prices dropped as the Australian dollar rose against its US counterpart and as trading resumed in leading producer Australia after a two-week break.
"The downward movement was not unexpected given the increase in the US exchange rate," the Australian Wool Industries Secretariat said.
A more expensive Australian dollar makes Australian wool exports dearer.
The Australian Eastern index closed at 7.41 Australian dollars per kilo on Thursday, from 7.44 Australian dollars on July 13.
The British Wooltops index stood at 403 pence on Thursday, unchanged from the previous week.
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