Platinum up $27.80 on output forecast
by Elaine Frei
Precious metals prices were mixed on Friday after gold and palladium declined but silver and platinum saw gains.
January platinum added $27.80 to $1,453.20 per troy ounce in New York after Johannesburg-based Anglo Platinum, a subsidiary of Anglo American (LSE: AAL), reduced its output forecast for this year due to the shutdown of a shaft in one of its mines for maintenance work.
December silver was also higher, adding 2 cents to $14.50 per troy ounce.
Meanwhile, December gold was down 60 cents to $786.70 per troy ounce, while December palladium dropped $3.45 to $367.50 per troy ounce in early trade.
Among base metals, March copper gained 9 cents to $3.21 per pound in New York on the possibility that recent price declines will make buyers in China more interested in making purchases.
Add to Bookmarks:
Related posts to: Platinum up $27.80 on output forecast
Australian gold production falls 7% ...
Minara downgrades full year forecast for Nickel ...
BMO increases gold price forecasts ...
Long term gold and silver forecasts revised ...
Gold drops 0.3 percent ...
Latest Metals News:
Copper prices fall on inventories, US housing data Copper, aluminium gain after early declines Gold drops half a dollar in New York Copper pares gains on US retail data Copper, aluminium inventories continue to climb Alcoa delays expansion at Wagerup and cuts production Platinum, palladium down on auto sector problems China’s stimulus plan sends most metals higher Western Areas reports on high grade nickel at Spotted Quoll Rio looks for Chinese joint venturesPrevious: « Citigroup forecasts less volatile metal prices
Next: Zimbabwe to transfer shareholdings of foreign miners »
Visited 733 times, 1 so far today