Metals prices fall in London

Metals prices dropped on Thursday after the dollar strengthened on home sales data.

Among precious metals, gold dropped $7 to trade in a range around $653.30/$654.80 per troy ounce by late in the day in London. Gold prices were as low as $651.50 per troy ounce earlier in the session, a two-month low. Platinum prices were lower as well, falling $24 to $1,276 per troy ounce.

Meanwhile, among base metals, three-month copper was down $221 to $6,980 per tonne on the London Metal Exchange, brining its decline to 16 percent since the beginning of May. Zinc dropped $110 to $3,540 per tonne, while nickel fell by more than $1,000 to $45,100 per tonne, its lowest price since early in April.