Platinum, gold prices decline
by Brian Turner
Gold prices fell again on Wednesday, for the third day in a row. Shortly after noon in New York, the precious metal was 20 cents lower to $687.50 per troy ounce for June contracts. Analysts said that the price of gold could go either way under current conditions, up or down depending on new developments in the news, while some said that the main thing keeping prices down currently was the entry of a great deal of central bank gold into the market.
The price of July platinum was also lower, dropping $2.50 to $1,309 per troy ounce. Analysts believe that platinum’s price will rally and could rise as much as 11 percent this year. Meanwhile, June palladium was $4 higher to $383 per troy ounce, while May silver gained 2.3 cents to trade at $13.805 per troy ounce.
Among base metals, May copper was 2.05 cents higher to $3.573 per pound.
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