Gold peaks above $1,000 per troy ounce
by Elaine Frei
Precious metals prices were higher on Thursday after the dollar declined yet again and after crude oil prices peaked at $111 per barrel before retreating slightly.
April gold added $13.30 to $993.80 per troy ounce after rising to $1,001.50 per troy ounce earlier in the session.
Some analysts expect that the price of gold, which has risen 20 percent so far this year, will drop in the short run, but that prices could top $2,000 per troy ounce in the longer term.
May silver was also higher, adding 43 cents to $20.42 per troy ounce, while April platinum jumped $27.50 to $2,097.50 per troy ounce.
Among base metals, meanwhile, May copper traded virtually even at $3.83 per pound in New York as three-month copper added $15 to $8,415 per tonne in London.
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Gold ends session lower in New York, but gains on week Gold prices retreat after setting new intraday high Gold closes at $1,666 per ounce in New York trade Gold prices at new records on disappointing US data Gold prices lower but comes off session lows on manufacturing data Gold sets new intraday, closing highs to end trading week in New York Copper rises; precious metals prices see declines Gold prices drop on profit-taking, stronger US dollar $1,616.80 per troy ounce: Another record high for gold Gold trades as high as $1,624.30 per ounce in New YorkPrevious: « Gold Book predicts volatile year ahead
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