Monday, February 27, 2006
Metals prices fall
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by Brian Turner
by Brian Turner
In the metals markets, gold was down $5 to $553.00/$553.70 per troy ounce. The precious metal lost over half of its $9 gain on Friday.
Base metal prices were down as well. Three-month copper was near a one-month low, losing $175 to $4,675 per tonne on the London Metal Exchange. The drop followed the announcement from Freeport McMoRan Copper & Gold that its Grasberg mine in Indonesia was back in production after a blockade lasting three days.
Zinc was down by $15 to $2,245 per tonne on a significant decline in inventories at LME registered warehouses.
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