Metals prices continue to rise

Uncertainties in Africa and the Middle East pushed the price of gold higher, to $596.00 per troy ounce, and traders said that it was sure to rise above $600 per troy ounce soon. Analysts at Standard Bank said that a rise to $625 per troy ounce was inevitable.

Silver was at $12.42 per troy ounce during the day, up from Friday’s late New York price of $12.06/$12.09 per troy ounce.

In base metals, copper was up to $5,915 per tonne as inventories in London Metal Exchange registered warehouses fell to extremely low levels. Zinc found another new record high price at $2.915 per tonne, and aluminium was trading at $2,590 per tonne during the day.