Platinum, palladium lower on Volkswagen sales report
by Elaine Frei
Precious metals prices fell Friday in New York trade.
July platinum was down $4.20 to $1,211.60 per troy ounce on a report from Volkswagen (FWB: VOW) reported that its sales fell 11.4 percent in the first quarter of the year.
The carmaker’s sales added 14.1 percent in Russia in the quarter and was up 6 percent in China and gained 4.5 percent in Germany, but US sales dropped 19.3 percent compared to the first quarter last year.
June palladium which, like platinum, is used in the manufacture of pollution control devices for motor vehicles, was down $1.75 to $234.40 per troy ounce in morning trade.
Meanwhile, June gold was $11.90 lower to $867.90 per troy ounce and May silver dropped 47 cents to $11.79 per troy ounce.
Among base metals, July copper added 2 cents to $2.20 per pound in New York while three-month copper gained $71 to $4,800 per tonne in London as equities markets saw gains.
Related posts to: Platinum, palladium lower on Volkswagen sales report
Gold prices rise on positive retail sales data ...
Copper jumps on US home sales data ...
Gold prices rise as most other metals decline ...
Gold prices fall on China concerns, US data ...
Gold gains on dollar weakness ...
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: « Copper lower on new data from China, US
Next: Copper, other base metals see price declines »
Visited 3298 times, 1 so far today