Palladium touches highest level since 2001; platinum bucks trend
By Deborah Levine, MarketWatch
NEW YORK (MarketWatch) — Gold futures, copper and other metals inched higher still Wednesday, extending major gains notched in the previous session during which copper set a new record.
Gold for February delivery (GCG11 1,407, +1.20, +0.09%) added $1.60 to stand at $1,407.20 an ounce.
On Tuesday, the precious metal jumped 1.6%, its biggest one-day gain since early November. Read about copper, gold on Tuesday
March silver (SIH11 3,049, +16.70, +0.55%) rose 0.7% to $30.51 an ounce, near its highest levels since at least 1984.
Palladium for March delivery (PAH11 794.15, +6.95, +0.88%) gained $5.80 to $793 an ounce, touching its strongest level in nice years.
Copper for March delivery (HGH11 432.85, +0.05, +0.01%) was little changed at $4.33 a pound. The industrial metal had climbed to an all-time high of $4.335 a pound on Tuesday, according to Bloomberg News.
Platinum for January delivery (PLF11 1,747, -4.70, -0.27%) fell $5.70 to $1,746.30 an ounce. The contract had closed Tuesday at its strongest level in nearly two months.
Metals trading in London resumed for the first time since Dec. 23, with brisk action as market participants caught up to Tuesday’s big news and the main news about China’s interest-rate hike on Christmas, analysts at FastMarkets said.
