Gold prices remain near record high

Prices for metals were almost universally higher Monday as gold and copper both rose as the US dollar weakened again.

December gold added $9.20 to $1,057.80 per troy ounce in New York trade after going above $1,060 per troy ounce earlier in the session, just a bit short of the record high of $1,062.70 per troy ounce which was reached last Thursday.

Among other precious metals, December silver was up 13 cents to $17.82 per troy ounce and January platinum was $7.90 higher to $1,347.30 per troy ounce while earlier, in mid-morning trade, December palladium gained $4.25 to $328 per troy ounce on demand as an investment..

December copper was up 2 cents to $2.86 per pound in New York trade, while three-month copper added $45 to $6,275 per tonne in London.

A possible strike in Chile and the weaker dollar helped copper prices higher, but another expected decline in copper imports into China and another gain in London Metal Exchange stockpiles, which were up 775 tonnes on the session to 347,375 tonnes held advances back.

LME inventories of copper are at their highest level in five months.

Most other base metals also saw gains as aluminium added $38 to $1,947 per tonne after going as high as $1,958 per tonne during the session while lead was up $45 to $2,294 per tonne, zinc was $61 higher to $2,094 per tonne and nickel gained $70 to $18,820 per tonne.

Tin, however, dropped $125 on the session to $14,675 per tonne.