Base metals drop on session, gain over week

The price of gold rose slightly on Friday, but base metals prices saw declines on the session. Gold traded at $651.00/$651.75 per troy ounce and was around $8 higher over the week.

Copper dropped more than 2 percent on Friday to $6,125 per tonne. Copper prices still gained over $100 on the week and gained back most of what it lost the week before. Nickel, meanwhile, spent part of the day near record highs even though it dropped $300 late in the day to $42,500 per tonne. Nevertheless, nickel managed to add 3.6 percent on the week amid continuing short supplies.