Precious metals gain on session

Precious metals prices were higher Thursday.

Gold and silver both rose in New York on the possibility that more central banks around the world will cut interest rates after the Bank of England cut the UK interest rate and the European Central Bank left the door open for rate cuts later in the year.

April gold added $5 to $910 per troy ounce while March silver added 23 cents to $16.78 per troy ounce.

Platinum contracts for April jumped another $32.40 to $1,851.40 per troy ounce.

Meanwhile, base metals prices were mixed.

Copper gained 14 cents to $3.45 per pound in New York and 3-month copper in London was up $95 to $7,425 per tonne after London Metal Exchange stockpiles dropped by another 2,500 tonnes during the session.

Aluminium added $39 to $2,681 per tonne and nickel was up $350 to $26,700/$26,800 per tonne but zinc fell $35 to $2,350 per tonne and lead dropped $40 to $2,780 per tonne.