June gold adds $20 on oil, falling dollar

Gold prices were higher Friday on the weaker dollar and on another surge in crude oil prices to a new record at $127.82 per barrel.

After hitting $902 per troy ounce in early afternoon trade, June gold was up $20 to $900 per troy ounce near the close of trade in New York.

July silver was up 29 cents to $16.97 per troy ounce after having gone to $16.99 per troy ounce earlier, while July platinum was up $55.10 to $2,132 per troy ounce.

Among base metals, July copper added 9 cents to $3.83 per pound in New York while three-month copper gained $141 to $8,437 per tonne in London on concerns that a workers’ strike thought to be settled earlier this month in Chile could start up again because contract workers have not received bonuses promised to them in the agreement ending the strike.