Nickel, copper prices rise as gold, zinc decline

The prices for copper and nickel were higher on Monday, but gold dropped $2 to trade at $661.80/$662.30 per troy ounce.

Copper added $100 to $6,980 per tonne, approaching the $7,000 level for the first time since December. Prices are being supported by forecasts that demand will exceed supply in the second quarter. Meanwhile, nickel was $700 higher to $45,000 per tonne following recent sell-offs as London Metal Exchange warehouses saw stockpiles rise.

Zinc prices, however, continued to decline, falling $115 to $3,140 per tonne on the session.