Precious metals see small price gains
by Brian Turner

In the metals markets on Friday gold was as high as $636.50 per troy ounce after comments from China that it is looking to diversify its foreign exchange reserves. By late afternoon in London, however, the price of gold had fallen to $628.80 for a gain of only 0.1 percent on the week. Meanwhile, platinum added 0.4 percent over the week to $1,227 per troy ounce on talk that an exchanged traded fund might be introduced.
In base metals, lead was a bit weaker this week, ending at $1,675 per tonne after going to a new record high price of $1,750 earlier on Friday. Zinc was slightly higher on the week as it fell to $4,300 per tonne after also finding a new record, $4,580 per tonne, early in the day on Friday. Inventories of zinc dropped to 95,200 tonnes in London Metal Exchange warehouses. Nickel saw big declines over the week, ending at $29,400 per tonne, a decline of 6.4 percent on the week.
Add to Bookmarks:
Related posts to: Precious metals see small price gains
LME to introduce small cash contracts ...
Platinum gains on smelter closure ...
Gold and copper hit short-term lows ...
Tin prices gain 7.4 percent this week ...
Upper Canyon engages with German firm ...
Latest Metals News:
Copper prices drop in New York, London
BHP Billiton scraps plans to acquire Rio
Base metals see more price declines
Copper prices fall on inventories, US housing data
Copper, aluminium gain after early declines
Gold drops half a dollar in New York
Copper pares gains on US retail data
Copper, aluminium inventories continue to climb
Alcoa delays expansion at Wagerup and cuts production
Platinum, palladium down on auto sector problemsPrevious: « Metals prices decline on session
Next: Precious metals prices decline »
Visited 530 times, 2 so far today