Metals Lower Friday Morning In U.S.
Friday, February 16, 2007 9:58:19 AM - Metals opened Friday’s U.S. trading lower across the board. Gold, silver and platinum moved off highs that they posted earlier in the week.
Copper began Friday’s U.S. session at a lower level. The move reversed a good portion of the gains the commodity made during Thursday’s session. After 40-minutes, copper for May delivery was down 3.2 cents at 2.6470 per pound. Copper has been on a gradual rise since the beginning of February, bringing it to its highest levels since the beginning of January.
Gold opened lower during Friday’s U.S. session. The commodity reversed some of the gains that it posted yesterday. After 15 minutes, gold for April delivery was down $2.40 to $669.10 per ounce. Over the last two days, gold has been trading off a multi-month high that it hit on Wednesday.
Silver opened lower in the U.S. on Friday. The move took it off a multi-month high that it touched earlier in the week. After 15 minutes, silver for March delivery was down 5.2 cents at $13.92 per ounce. Silver’s second day of moving off the multi-month high set on Wednesday followed a rise that began in early January.
Platinum fell at the beginning of Friday’s U.S. session. This followed a day of relatively sideways movement. After about 40 minutes, platinum for April delivery was down $11.10 at $1205.80 per ounce. Platinum continued to trade off a multi-month high that it set on Wednesday. The metal had been on a gradual rise since the beginning of January.
Palladium opened lower at the start of Friday’s U.S. session. The move continued to take the metal off a weekly high seen on Wednesday. After about half-an-hour, palladium for March delivery was down $2.80 to $340.00 per ounce. Palladium has seen choppy trading since the second-half of January when it fell off a multi-month high.