Wednesday, April 2, 2008
Metals prices mixed on session
Story link: Metals prices mixed on session
by Elaine Frei
by Elaine Frei
Metals prices were mixed but mostly higher on Wednesday.
Gold saw gains on speculation that recent gains for the US dollar will not hold and that the Federal Reserve will cut US interest rates again soon.
June gold added $11.70 to $899.50 per troy ounce in New York, while May silver gained 30 cents to $17.19 per troy ounce and July platinum was $26.80 higher to $1,964.60 per troy ounce.
On the other hand, June palladium was down $13.50 in mid-morning trade to $435.10 per troy ounce.
Among base metals, May copper added 7 cents to $3.88 per pound in New York while three-month copper on the London Metal Exchange was up $215 to $8,515 per tonne.
Lead, zinc, and tin were also higher in London trade, but aluminium and nickel prices were lower.
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