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.
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