Gold closes below $800 level
by Elaine Frei
Precious metals prices were mixed Tuesday, with gold and sliver both down along with the price of crude oil but platinum and palladium seeing gains.
December gold dropped back below the $800 level to close at $799 per troy ounce, a decline of $8.70, while December silver fell 15 cents to $14.61 per troy ounce.
It was the first time gold closed below $800 since the beginning of November.
Trade volumes in gold were heavy, with 214,086 contracts changing hands on the Comex division of the New York Mercantile Exchange.
Meanwhile, January platinum added $21.50 to $1,412.30 per troy ounce and December palladium gained $1.25 to $373.50 per troy ounce.
Among base metals, December copper was lower, but by less than 1 cent to $3.10 per pound in New York, while three-month copper on the London Metal Exchange dropped $110 to $6,930 per tonne.
LME inventories were up again, gaining 1,675 tonnes to 177,875 tonnes.
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