Daily Metal Market News & Metal Prices
 
Daily Metal Prices & Market News
Thursday 17th of May 2012
Thursday, May 14, 2009

Platinum, palladium down on auto industry troubles

Platinum, palladium down on auto industry troubles

Precious metals prices were mixed Thursday, while copper was nearly unchanged in early afternoon trade in New York.

Platinum and palladium were both lower on more troubles for automakers after General Motors’ (NYSE: GM) CEO said in an interview that it will probably declare bankruptcy, while court filings by Chrysler in its bankruptcy proceedings revealed that it is looking to cancel agreements with 789 dealers.

July platinum dropped $5.70 to $1,117.50 per troy ounce in early afternoon trade while in late morning trade June palladium was $2.30 lower to $224.45 per troy ounce.

Both metals are used in the manufacture of pollution control devices for motor vehicles.

Gold and silver, on the other hand, were up on a report from the US Labor Department that there were 637,000 first time unemployment claims filed last week in the United States, up 32,000 from the previous week and 27,000 more than had been anticipated.

June gold was $2.10 higher to $928 per troy ounce while July silver added 2 cents to $14.04 per troy ounce.

July copper declined slightly to $2.03 per pound in New York trade.

 


Related posts to: Platinum, palladium down on auto industry troubles

Gold drops on demand concerns ...

Copper higher in London, New York ...

Gold, silver advance as platinum, palladium prices drop ...

Uganda to revive copper industry ...

South African gold strike threatens supply ...

Latest Metals News:

Latest News  Gold ends session lower in New York, but gains on week

Latest News  Gold prices retreat after setting new intraday high

Latest News  Gold closes at $1,666 per ounce in New York trade

Latest News  Gold prices at new records on disappointing US data

Latest News  Gold prices lower but comes off session lows on manufacturing data

Latest News  Gold sets new intraday, closing highs to end trading week in New York

Latest News  Copper rises; precious metals prices see declines

Latest News  Gold prices drop on profit-taking, stronger US dollar

Latest News  $1,616.80 per troy ounce: Another record high for gold

Latest News  Gold trades as high as $1,624.30 per ounce in New York


Previous: «
Next: »

Visited 3320 times, 2 so far today

Gold ($/troy ounce):

Silver ($/troy ounce):

Platinum ($/troy ounce):