Copper lower on dollar, jobs report

Copper prices fell Wednesday as the US dollar strengthened and after ADP Employer Services reported that the US private sector lost 532,000 jobs in May.

July copper fell 9 cents to $2.21 per pound in New York trade while three-month copper dropped $130 to $4,920 per tonne on the London Metal Exchange.

Nickel, lead and zinc prices also fell between 2.8 and 3 percent on the session while tin held steady at $14,500 per tonne but aluminium was up to $1,484 per tonne on increased consumer demand.

Gold ended the session in New York $18.80, trading at $965.60 per troy ounce on gains in the dollar and after it followed oil prices lower, trading as high as $992.10 per troy ounce during the session and after falling as low as $962.10 per troy ounce during the day.

Among other precious metals, July silver dropped 65 cents to $15.31 per troy ounce and September palladium was down $8.75 to $242.50 per troy ounce on profit taking, but July platinum added $1.10 to $1,244.50 per troy ounce.