Most base metals, gold prices decline

Metals prices were mixed Wednesday, with most base metals prices and gold lower even as silver, platinum and tin saw gains.

Among base metals, December copper dropped 14 cents to $1.82 per pound in New York while three-month copper in London was down $280 to $4,070 per tonne after a gain of 8 percent on Tuesday.

The declines for copper came as the US dollar strengthened and on London Metal Exchange inventories that gained 5,825 tonnes to 247,475 tonnes to bring stockpiles up by 24 percent in just over a month.

Elsewhrere, the price of aluminium dropped $19 to $2,091 per tone even though LME inventories fell by 1,150 tonnes while lead was down $29 to $1,511 per tonne, zinc was $59 lower to $1,180 per tonne and nickel dropped $600 to $12,300 per tonne.

Tin, on the other hand, added $105 to $14,900 per tonne on the session.

In precious metals, December gold fell $15.80 to $741.50 per troy ounce while December silver added 35 cents to $10.48 per troy ounce and January platinum gained $22.30 to $880 per troy ounce.