Daily Metal Market News & Metal Prices
 
Daily Metal Prices & Market News
Thursday 09th of September 2010
Friday, April 30, 2010

Gold, most other metals prices gain on weaker US dollar

Gold, most other metals prices gain on weaker US dollar

The price of gold was up Friday, to a four-month high, on concerns about debt issues in Europe as the precious metal was seen as a better place to put cash after the US dollar weakened.

May contracts for gold added $11.70 to $1,180.10 per troy ounce in New York, a gain of around 2.3 percent this week that sent advances to 6 percent for the month of April.

Other precious metals were also higher as May silver added 6 cents to $18.61 per troy ounce, May platinum was up $11.40 to $1,745.10 and June palladium was $6.75 higher to $555.75 per troy ounce.

Weakness in the US dollar that produced more investment demand for commodities in general sent copper prices higher, as did hopes that a bailout package fore Greece will be finalized soon, with May copper adding less than a cent to $3.34 per pound in New York while three-month copper on the London Metal Exchange gained $45 to $7,400 per tonne on the session.

Among other base metals aluminium, nickel, tin and zinc were also higher, but lead prices were down on the session.

 

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