Copper mixed; sees first monthly gain since June

Copper prices were mixed Friday as prices were up in New York trade but declined in London.

March copper added 1 cent to $1.47 per pound in afternoon trade in New York but was down $65 to $3,165 per tonne, or $1.44 per pound, in trade on the London Metal Exchange.

Despite the mixed results, copper was on its way to its first monthly price gain since June on hopes that proposed infrastructure projects in the US will increase demand for the metal used in construction.

Excluding the session’s price changes, copper was up 3.4 percent in January.

Among precious metals, meanwhile, gold was up as investors looked for safe places to put their cash on fears that inflation will rise as governments take steps to boost their economies.

April gold added $22.50 to $929 per troy ounce in afternoon trade in New York, while March silver was up 44 cents to $12.58 per troy ounce and April platinum gained $16.40 to $989 per troy ounce.