Monday, February 27, 2006
Metals prices fall
Story link: Metals prices fall
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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Latest Metals News:
Gold ends session lower in New York, but gains on week Gold prices retreat after setting new intraday high Gold closes at $1,666 per ounce in New York trade Gold prices at new records on disappointing US data Gold prices lower but comes off session lows on manufacturing data Gold sets new intraday, closing highs to end trading week in New York Copper rises; precious metals prices see declines Gold prices drop on profit-taking, stronger US dollar $1,616.80 per troy ounce: Another record high for gold Gold trades as high as $1,624.30 per ounce in New YorkPrevious: « Precious metals up after overnight drop in Asia
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