Gold spikeIn over seas trading in Hong Kong, which opens hours before the New York exchange, gold opened at $850/oz, a new high, although it has backed off since then is now at $841/oz. Platinum is $1,539/oz and silver $14.84. 2008, which is not that far away, could see gold prices reach over $1,000/oz and platinum $2,000/oz. The Chinese car market is exploding and China uses platinum catalyst as a fuel cleaner, as well as the rest of the world. Although paladium can be used as a substitute even though it is not as effective.
Copper up on fresh buying interest
Press Trust Of India / New Delhi December 28, 2007
Copper prices are in the $3 range on the non-ferrous metal market here today following fresh buying by stockists and consuming industries amid restricted supply. Elsewhere, rest of other base metal prices moved in a tight range on little bouts of buying and selling interest.
Marketmen said rise in demand from consuming industries mainly pushed up the copper prices.