Tuesday, July 25, 2006
Base metals inventories continue to decline
Story link: Base metals inventories continue to decline
by Brian Turner
by Brian Turner
Gold fell 3.1 percent to $610.20 per troy ounce on Tuesday after US consumer confidence figures were higher than had been anticipated. Silver was slightly lower as well, to $10.80 per troy ounce, while platinum gained 1.8 percent to $1,217 per troy ounce.
Copper and nickel were both up. Copper added 4.6 percent to $7,425 per tonne on lower London Metal Exchange stockpiles and growing concerns about a possible strike in Chile. Nickel was up 2.6 percent to $24,650 per tonne on another drop of 24 tonnes in LME inventories.
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