Monday, April 7, 2008
Gold gains almost $14 on New York session
Story link: Gold gains almost $14 on New York session
by Elaine Frei
by Elaine Frei
Precious metals prices were higher on Monday on worries about more declines for the US dollar and on rising food and fuel prices.
Gold and silver were pushed up as higher prices for food and fuel sent investors looking for hedges against inflation.
June gold added $13.80 in New York to $927 per troy ounce while silver was up 37 cents to $18.12 per troy ounce.
Platinum saw gains on speculation that the dollar will weaken further, making it a more attractive investment.
July platinum was $17.50 higher to $2,048 per troy ounce, while in morning trade palladium gained just over $10 to $454.50 per troy ounce.
Among base metals, May copper added 3 cents to $3.98 per pound in New York trade.
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