Gold, platinum decline on session

In the metals markets, gold was trading at $625.50/$626.60 per troy ounce, down $2, by mid-morning in New York after hitting $629.40 per ounce earlier in the day. Platinum was $10 lower to $1,188/$1,194 per troy ounce. Among base metals, zinc added $35 to $4,425 per tonne late in the session in London after going up to a new record of $4,430 per tonne earlier in the day. Lead, which is over 70 per cent higher since late June, traded at $1,707 per tonne late after going as high as $1,738 per tonne earlier. Copper, however, was $30 lower to $7,330 per tonne.

Trade was disrupted for a time on the London Metals Exchange when its electronic trading system stopped working on the first day of use of new software. Traders had to conduct business through voice brokers and floor traders. The LME said that the software, which failed due to an “unforeseen issue”, would be ready for Tuesday’s session.