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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