Gold, Other Metals Up At Open

Gold, Other Metals Up At Open

Friday, March 16, 2007 8:56:25 AM - Metal prices were up early in Friday’s U.S. trading. Gold advanced again, continuing a climb that has lasted about a week. Silver, palladium and platinum also opened with gains. Copper dropped slightly.

Gold prices were up at the start of Friday’s U.S. trading. Gold for April delivery spiked up $6.10 to $653.20 per ounce in the opening minutes. Prices advanced at the open and drifted up slightly in the next 10 minutes. The metal has been climbing for about a week. With the U.S. dollar sliding against the euro, gold was up in London.

Silver was up slightly at the open of U.S. trading on Friday. Silver for May delivery gained 5 cents to $13.125. It opened higher and maintained those gains in the first 10 minutes. Prices have been range-bound since last week when silver reached a two-month low.

Copper slipped by 2.5 cents in the first half-hour of U.S. trading on Friday. Copper for May delivery was at $2.963, a slight decline from Thursday’s close. The metal had been trending up for about 10 days. In China, copper stockpikes are up 20 percent, their highest level in eight months.

Platinum prices continued to climb on Friday as U.S. trading began. Platinum for April delivery was up $5.10 on the day to $1,220.80. Prices have been trending up for about 10 days, coming off a monthly low.

At the start of Friday’s U.S. trading, palladium for June delivery gained slightly. The metal was at $353.25, an advance of $1.55 from Thursday’s close. Palladium trading has been uncertain throughout the week.