Gold, silver see gains in New York
by Elaine Frei
Gains in equities markets and for oil prices helped sentiment enough to push the price of gold higher Thursday.
April gold added $13.30 to $924 per troy ounce at the end of floor trade in New York, while May silver was also up, gaining 14 cents to $12.94 per troy ounce.
April platinum dropped $5.70 to $1,054 per troy ounce while June palladium added just a bit on the session to end at $198.30 per troy ounce.
The gains for oil and equities also helped copper, which recovered from early declines to finish down just fractionally at $1.62 per pound in New York trade while three-month copper added $31 to $3,620 per tonne in London.
Higher prices for stocks and oil raised the hopes of investors that demand for the metal used in construction and manufacturing will improve.
Earlier declines for copper came on information that made it look like growth is weakening in China’s economy, added to recent data that shows industrial production in in decline around the world.
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