Monday, April 28, 2008
Gold adds $6 on oil prices
Story link: Gold adds $6 on oil prices
by Elaine Frei
by Elaine Frei
Precious metals prices were higher on Monday.
June gold added $6 to $895.70 per troy ounce in New York as crude oil hit a new record high at $119.93 per barrel, sending investors looking for safe places to put their money as inflation threatened.
The gain came after gold dropped 2.8 percent last week as the US dollar gained on the euro.
July silver was up 19 cents to $17.15 per troy ounce, while July platinum added $10.60 to $1,978.60 per troy ounce after declines earlier in the session.
Among base metals, copper added 2 cents to $3.93 per pound in New York as some Chilean mines remained closed due to a strike against Codelco, Chile’s state-owned mining company and the world’s largest copper producer.
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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: « Galaxy reports on West Kundip manganese prospect
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