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PALLADIUM PRICES SOAR, GOLD PRICES CONSOLIDATE
FastMarkets
Base metals prices on the London Metal Exchange are split this morning, Monday June 12, with copper, aluminium, lead and zinc prices down between 0.2% and 0.5% – copper prices are off 0.5% at $5,801 per tonne – while tin and nickel prices are up 0.6% and 0.2%, respectively.
Volume has been average with 6,031 lots traded as at 06:59 BST. This comes after a generally positive day of trading on Friday June 9, when apart from tin that fell 1.5%, the base metals were up an average of 1.2%.
This morning, gold and silver prices are weaker by 0.8% and 1.8% at $1,267.06 per oz and $17.11 per oz, respectively, while palladium has rallied 4.6% to $898.80 per oz and platinum is up 0.7% at $944.20 per oz. This comes after a weaker day for gold and silver on Friday when prices were down 0.9% and 1.2% respectively, while platinum was little changed and palladium was up 2.9%.
In Shanghai this morning, the base metals trading on the Shanghai Futures Exchange (SHFE) are for the most part bullish, with prices up an average of 1.1%, led by a 2.1% gain in zinc prices, with lead prices up 1.9%, nickel prices up 1.2% and copper prices up 1.1% at 46,270 yuan per tonne ($6,806 per tonne), while aluminium prices are off 0.1%.
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