Melvin Baker – AHN Reporter
New York, NY (AHN) – Metals futures reached their highest levels in a year on Tuesday as the falling dollar continued to raise interest in precious metals.
Gold futures for February delivery rose to $1,204 an ounce before falling back to $1,198.80. Gold for immediate delivery settled at $1,197.70, while gold for January delivery ended at $1,198.10.
The metal has risen 36 percent this year. In November, gold was up 13 percent.
Silver for March delivery rose 68.5 cents to $19.21 an ounce after reaching $19.30. Palladium peaked at $388.60 an ounce before settling at $383.95, an increase of $17.75. The metals last saw prices at this level in July 2008.
January platinum futures rose $26.40 to $1,486.60. Earlier, the price touched $1,494.80, its highest level since September 2008.
December copper settled at $3.20 a pound, up 5.5 cents.
