Monday, March 30, 2009
Copper prices decline on dollar gains
Story link: Copper prices decline on dollar gains
by Elaine Frei
by Elaine Frei
Copper prices were lower Monday after the US dollar strengthened and after investors pulled back from what they saw as risky deals on declines in global equities markets.
May copper was 7 cents lower to $1.77 per pound in New York, while three-month copper was down $135 to $3,915 per tonne in afternoon trade on the London Metal Exchange.
Copper inventories were up 650 tonnes on the session to bring stockpiles in LME-monitored warehouses back above 500,000 tonnes.
Prices for precious metals were also lower on the session as June gold was $7.60 lower to $917.70 per troy ounce in New York trade while May silver fell 23 cents to $13.03 per troy ounce and July platinum dropped $16.90 to $1,120.80 per troy ounce.
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Latest Metals News:
Gold ends session lower in New York, but gains on week Gold prices retreat after setting new intraday high Gold closes at $1,666 per ounce in New York trade Gold prices at new records on disappointing US data Gold prices lower but comes off session lows on manufacturing data Gold sets new intraday, closing highs to end trading week in New York Copper rises; precious metals prices see declines Gold prices drop on profit-taking, stronger US dollar $1,616.80 per troy ounce: Another record high for gold Gold trades as high as $1,624.30 per ounce in New YorkPrevious: « Mwana Africa to re-open Zimbabwean gold mine
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