Gold prices have inched higher, briefly trading above $1,400 an ounce.

Gold futures fell Friday for the first time this week, as traders cashed out to profit from the precious metal's rise to three-month highs.

Gold futures edged lower Friday, ending flat on the week, as drawn-out bailout talks in Greece frayed investor nerves and some traders trimmed their holdings ahead of a three-day break in the US.

Copper rolled losses into a third straight day on Tuesday, hit by weaker-than-expected US retail sales data, persistent concerns about European debt, and scant Chinese purchases that may keep the market on its back foot in the days ahead.

Chinese state-owned Beijing Guoli Energy Investment is to take a $20 million stake in Queensland-based Cuesta Coal ahead of its listing this year.

BHP said in a statement overnight that the Saskatchewan Ministry of Environment had notified it of the approval, following an environmental impact statement submitted in December, 2010. BHP said Jansen would employ an average of 1,900 people during construction and create approximately 1,000 operational jobs once the mine has reached full capacity.