Metals prices mixed on day

Precious metals prices were mixed in New York on Thursday as gold weakened after US Federal Reserve Chairman Ben Bernanke said in testimony before Congress that he supports the idea of a stimulus package to shore up the US economy.

At shortly before the close of floor trade in New York, February gold was $1 lower to $881 per troy ounce after having gone as high as $891.50 before Mr. Bernanke spoke to the House Budget Committee.

April platinum was also lower, trading at $1,565.80 per troy ounce in about half an hour before the close, a decline of $1.30, but March silver added 12 cents to $16.01 per troy ounce.

Meanwhile, among base metals, March copper was up 1 cent to $3.18 per pound in New York after stockpiles in London Metal Exchange inventories dropped by 5,500 tonnes  during the day’s session.

However, three-month copper in London was down $90 to $7,080 per tonne.