Copper adds 1.4 percent as Chile strike continues

In the metal markets on Monday, gold dropped 0.8 percent to $627.20 per troy ounce after tensions eased over the Israel/Hizbollah situation. Among other precious metals, silver added 0.8 percent to $11.97 per troy ounce, but platinum and palladium were both lower, by 1.7 percent to $1,219 per troy ounce and 1.6 percent to $312 per troy ounce respectively.

Among base metals, copper added 1.4 percent to $7,675 per tonne as the strike at Escondida mine in Chile entered its second week with no reported news from weekend talks between the union and management. Aluminum was 1.3 percent lower to $2,488 per tonne, while zinc fell 0.5 percent to $3,245 per tonne.