Prices down on nickel, copper
by Brian Turner
In metals markets on Wednesday, precious metals prices stayed close to previous levels. Gold was up slightly to $623.70 per troy ounce. Silver sat at $12.30 per troy ounce, while platinum sold for $1,228 per troy ounce and palladium brought $341 per troy ounce.
Among base metals, nickel and copper prices were both lower. Three-month nickel dropped 4 percent to $28,750 per tonne after hitting a new record on Tuesday. London Metal Exchange inventories were up 174 tonnes to 1,956 tonnes, but supplies were still tight and cash prices were at $33,325 for the session.
Three-month copper fell 0.6 percent to $7,575 per tonne as there was still no solution in sight to the strike at Escondida mine in Chile. The union has lowered its demands yet again, but BHP Billiton has not moved to raise its previous offer, which workers have rejected.
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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: « Metals mixed on strike, inventories concerns
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