Precious metals prices mixed as gold retreats

Metals prices were mixed Friday.

In precious metals, December gold was down $3.90 to $736 per troy ounce in morning trade before earning back some gains to trade 70 cents lower to $739.20 per troy ounce.

Silver and platinum traded higher, however, with December silver 15 cents higher to $13.62 and October platinum up $3 to $1,331.60 per troy ounce.

Among base metals, December copper was higher in morning trade in New York on news of a strike vote in Peru but later it was trading even at $3.59 per pound, while three-month copper on the London Metal Exchange added $85 to $7,975 per tonne, or $3.62 per pound.

Zinc added 1.2 percent over the week to $2,868 per tonne, while tin gained 3.5 percent to $15,325 per tonne, copper ended 5.5 percent higher, and nickel was 13.6 percent higher to $32,500 per tonne but aluminium ended the week 1 percent lower to $2,405 per tonne.

Crude oil prices were mixed on Friday with the new November WTI contract down 93 cents to $80.85 near the close of floor trade on Friday on the New York Mercantile Exchange, but Brent crude for November delivery was 11 cents higher to $79.20 per barrel after reaching a new high of $79.94 in earlier trade.

Nymex October gasoline was 3 cents lower to $2.11 per gallon, while November heating oil had dropped 1 cent to $2.27 per gallon and November natural gas was 2 cents higher to $7 per million British thermal units.

Among agricultural commodities, December wheat on the Chicago Board of Trade was 19.5 cents higher to $8.69 per bushel in afternoon trade after Iraq and Algeria bought US wheat.

CBOT November soybeans were 7.5 cents lower in afternoon trade to $9.81 per bushel but will likely end the week higher with farmers saying they will plant fewer acres in the next crop.

December cocoa on the New York Board of Trade added $12 to $1,983 per tonne after going as high as $2,000 per tonne earlier on tight supplies and a stronger pound.

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