Three-month nickel hits another record high price

In metal markets on Monday, gold added $1 by late in the day in London to trade at $636.75/$637.75 per troy ounce after hitting a three-year high at $639.60 per troy ounce earlier. Three-month nickel was up 3 percent on the day, more than $1,200 higher per tonne after rising to another record high at $37,300 earlier in the session. Inventories of nickel in London Metal Exchange warehouses has fallen to around 4,000 tonnes, just one day’s worth of global demand. In addition, there were worries about the nickel on a ship grounded off the southwest coast of England.