Daily Metal Market News & Metal Prices
 
Daily Metal Prices & Market News
Saturday 13th of March 2010
Friday, January 15, 2010

Gold lower on stronger dollar

Story link: Gold lower on stronger dollar
by Elaine Frei
Gold lower on stronger dollar

The price of gold fell Friday as the US dollar strengthened as more investors bought the greenback in a search for the safest place to put their cash, and on concerns that China’s economy could slow following moves by the Asian nation’s central bank.

February gold was $12.50 lower to $1,130.50 per troy ounce in New York trade, while March silver fell 23 cents to $18.43 per troy ounce and April platinum dropped to $1,596.10 per troy ounce.

Platinum, however, was up $4.70 to $447.75 per troy ounce after Exane BNP Paribas raised its forecast for 2010 prices to $400, 57 percent higher than an earlier prediciton.

Meanwhile, among base metals, March copper was 2 cents lower in New York to $3.37 per pound, while three-month contracts for the metal used in construction and manufacturing fell $111.50 to $7,407.50 per tonne on the London Metal Exchange.

Except for nickel, which added $112.50 to $18,650 per tonne, other base metals prices also fell in London.

 

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