Monday, May 5, 2008
Precious metals gain on dollar decline
Story link: Precious metals gain on dollar decline
by Elaine Frei
by Elaine Frei
Precious metals prices jumped Monday as the US dollar weakened versus the euro and as crude oil prices hit yet another record high.
In afternoon trade in New York, June gold was up $13.50 to $871.50 per troy ounce while July silver had added 42 cents to $16.88 per troy ounce and July platinum gained $25.90 per troy ounce to $1,906.50 per troy ounce.
July copper traded 13 cents higher to $3.95 per pound at early afternoon in New York, but earlier it jumped to just above $4.26 percent to the pound, a new record as the strike in Chile continued.
Copper’s previous record, $4.04 per pound, was sent on April 17.
The London Metal Exchange was closed for the session due to a holiday.
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