Platinum adds nearly $22 in New York
by Brian Turner
Metals prices were higher on Thursday after the US dollar declined in response to lower than expected gross domestic product figures for the first quarter. The weakness in the data led some to believe that the Federal Reserve could cut interest rates, which would benefit metals prices.
August gold added $7.40 by early afternoon trade in New York to trade at $666.70 per troy ounce after having priced in a range between $663.50 and $667.50 in morning trade. July silver was 25 cents higher to $13.47 per troy ounce after trading between $13.38 and $13.56 earlier. Still among precious metals, July platinum was $21.80 higher to $1,285.80 per troy ounce after trading as high as $1,286.50 during the morning session.
Among base metals, July copper gained 9 cents to $3.40 per pound, its highest level so far on the day.
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Latest Metals News:
Gold ends session lower in New York, but gains on week Gold prices retreat after setting new intraday high Gold closes at $1,666 per ounce in New York trade Gold prices at new records on disappointing US data Gold prices lower but comes off session lows on manufacturing data Gold sets new intraday, closing highs to end trading week in New York Copper rises; precious metals prices see declines Gold prices drop on profit-taking, stronger US dollar $1,616.80 per troy ounce: Another record high for gold Gold trades as high as $1,624.30 per ounce in New YorkPrevious: « Most metals prices lower on session
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