Metals prices drop once again

In the metals markets on Thursday, gold lost 3 percent after the European Central bank raised interest rates by 25 basis points, strengthening the dollar in relation to the euro. Gold was trading at $611.30 per troy ounce, $19 dollars from Wednesday’s late quote in New York. Silver was down as well, off 50 cents to $11.25 per troy ounce.

Prices for base metals were down, as well. Copper was down 5.5 percent to $7,355 per tonne on the London Metal Exchange, a drop of $450 dollars. Aluminium was down $140 to $2,510 per tonne, while lead dropped below $1,000 per tonne for the first time this year.