By Perrine Faye

LONDON: Most global commodity markets advanced this week, in line with oil price gains, reaping the benefits of a weak US currency which makes dollar-denominated products cheaper for foreign buyers.

"Movements in the dollar and oil are still providing upwards momentum to gold and much of the commodity sector," said James Moore, an analyst for specialist website TheBullionDesk.com.

On Friday, the Commodities Research Bureau??™s index of 17 commodities increased to 319 points, from 307.85 the previous week.

GOLD: Gold prices climbed to the highest level for three and a half months.

"The threat of oil driven inflation and bearish sentiment towards the dollar will continue to draw investors towards gold and its unique properties as a store of value," said Barclays Capital metals analyst Sudakshina Unnikrishnan.

On Friday the metal reached $649.95, the best level since August 10.

On the London Bullion Market, gold prices rose to $648.75 per ounce at Friday??™s late fixing, from $639.50 one week earlier.

SILVER: Silver fared even better than gold in the wake of the dollar??™s weakness, reaching a six-month high.

"Strength in silver prices is being tied most closely to the decline of the US dollar," said James Cordier, a trader at Liberty trading group.

Silver climbed above $14 per ounce on Thursday for the first time since May 17. In May it had struck $15.22 - the highest level for 25 years.

On the London Bullion Market, silver prices jumped to $13.85 per ounce at Friday??™s fixing, from $13.37 the previous week.

PALLADIUM AND PLATINUM: Platinum and palladium fell in contrast to most other metals.

"Recent price volatility in platinum looks set to continue in the coming sessions as supply concerns persist," Moore added.

"Palladium is still firmly locked within its current $305 to 330 range and will struggle to clear the September high of $355 due to the metals poor" supply and demand situation.

On the London Platinum and Palladium Market, platinum eased to $1,156 per ounce at the late fixing Friday, from $1,192 the previous week.

Palladium slipped to $326 per ounce on Friday from $328 the previous week.

BASE METALS: Nickel and zinc struck historic records, buoyed by falling global stockpiles and production problems.

The price of nickel for delivery in three months climbed to $34,300 per tonne in London on Friday.

Nickel, trading at the highest level since it was first quoted in 1979, has surged by more than 150% since the start of 2006.

"With continued low LME nickel stocks coupled with supply side problems, we continue to view nickel prices with an upside bias," Unnikrishnan said.

Anglo-Australian resources group BHP Billiton had said Thursday that its new Ravensthorpe nickel mine in western Australia would not begin production until early 2008, instead of the third quarter of 2007, owing to rising costs.

Zinc meanwhile struck $4,850 on Monday - an all-time record - amid weak stocks which are at their lowest level since 1991. The metal??™s price later fell.

On Friday, three-month copper prices eased to $6,976 per tonne on the LME from $7,040.50 the previous week.

Three-month aluminium prices rose to $2,746 per tonne from 2,695.

Three-month nickel prices soared to $34,250 per tonne from 33,400.

Three-month lead prices leapt to $1,683 per tonne from 1,580.

Three-month zinc prices pulled back to $4,400 per tonne from 4,514.50.

Three-month tin prices increased to $10,595 per tonne from 10,075 a week earlier.

OIL: World oil prices shot higher this week, with Brent crude North Sea striking a two-month high above $64 per barrel on concerns over falling energy supplies, dealers said.

Brent hit $64.77 on Thursday in London trade - the highest level since September 19.

New York??™s main contract, light sweet crude for delivery in January, struck $63.77 Thursday for the first time since September 29.

Crude futures rose strongly mainly owing to data that revealed falls to US energy stocks and on increasing signs Opec is serious about production cuts, dealers said.

Prices began shooting higher on Wednesday after data revealed that US crude oil stocks fell 300,000 barrels to 340.8mn in the week ended November 24 - the first weekly drop for a month.

Closely watched levels of distillate products, including heating oil and diesel fuel, fell 1mn barrels to 132.8mn over the week, while gasoline (petrol) reserves fell also.

Crude futures have been supported this week also by forecasts of colder weather in the US, a weak dollar, geopolitical unrest in producer countries, notably Nigeria, and expectations that Opec will decide to further cut oil output at the group??™s meeting in Abuja on December 14.

At about 1600 GMT on Friday in New York, a barrel of crude for delivery in December jumped to $62.82 per barrel from $59.88 the previous week.

In London, a barrel of Brent North Sea crude for delivery in January leapt to $64.05 per barrel, from $60.07.

RUBBER: Rubber prices rose after key producer Thailand said it would act to prop up the market following recent losses.

"The Thai government issued a statement through their agricultural department that they would support the price of rubber, because they felt it had dropped low enough," said Rashid Ahmed, an analyst at Corrie Maccoll.

The rainy season, which draws to a close in late November, normally makes it harder for farmers to collect latex. However, recent weather has been dryer than anticipated, prompting recent price falls.

On Tocom, Tokyo??™s commodity exchange, natural rubber for April delivery rose to ??191.70 per kilogramme on Friday, from ??187.30 a week earlier.

Singapore??™s RSS 3 March contract advanced to 160 US cents per kilogram on Friday, from 152.75?? a week earlier.

COCOA: Cocoa prices staged a rebound.

"Some traders said that concern over tight supplies of cocoa helped to support prices," said Davies.

On the Liffe, London??™s futures exchange, the price of cocoa for December delivery rose to ??845 per tonne on Friday, from ??837 a week earlier.

On the New York Board of Trade (Nybot), the March contract rose to $1,571 per tonne on Friday, from $1,495 on Wednesday, November 22, before the Thanksgiving public holiday in the US.

COFFEE: Coffee prices rose in New York as investors ploughed into the market, but struggled in London.

"Arabica futures surged to a nine and a half month high, on fund and speculative buying on a weaker dollar and broad commodity strength," said Sucden??™s Michael Davies.

Prices in New York hit 126.80?? per pound on Wednesday, which was last seen on January 30.

On Liffe, Robusta quality for January delivery decreased to $1,420 per tonne on Friday, from $1,428 a week earlier.

On Nybot, Arabica for March delivery gained to 123.90?? per pound on Friday, from 120.15?? on Wednesday November 22.

SUGAR: Sugar prices gained ground.

"London sugar futures surged higher on the back of strong fund buying," Davies said.

By Friday on Liffe, the price of a tonne of white sugar for March delivery jumped to $370, compared with $343.60 a week earlier.

On Nybot, the price of unrefined sugar for March delivery rose to 12.19?? per pound, from 11.59?? on Wednesday November 22.

GRAINS AND SOYA: Maize hit a 10-year peak on strong demand and low stocks.

In Chicago on Thursday, maize reached $3.78 per bushel - last seen in July 1996. And soyabean meal struck $6.96 on Monday - which was last reached in July 2005.

On the Chicago Board of Trade, the price of wheat for December delivery climbed to $4.96 per bushel on Friday, from $4.92 a week earlier.

Maize for December delivery advanced to $3.72 per bushel on Friday, from $3.66.

January-dated soyabean meal - used in animal feed - increased to $6.81, from $6.79 the previous week.

On the Liffe, the price of a tonne of wheat for January delivery eased to ??97 on Friday, from ??97.75.

COTTON: Cotton prices rose in New York on news of strong US exports.

The US exported 501,000 bales of cotton in the week ended November 23 - more than double the previous week, government data showed.

On the Nybot, the December contract firmed to 53.35?? per pound on Friday, from 52.12?? on Wednesday November 22.

The Cotton Outlook Index of physical cotton eased to 57.85?? on Thursday, from 58.15?? the previous week.

WOOL: Wool prices eased owing to a stronger Australian dollar which led to more expensive exports from Australia - the world??™s biggest wool producer.

"The Australian Wool Market eased slightly against a sharply rising US exchange rate, finishing the week 0.1% lower," the Australian Wool Industries Secretariat said.

The Eastern index slid to A$8.25 per kilo on Thursday, compared with A$8.25 the previous week.

The British Wooltops index fell to 440p on Thursday, from 455p the previous week. ??“ AFP