Gold, silver end higher on year; mixed on session

Precious metals prices were mixed in New York on Monday, but both gold and silver ended higher for the seventh year in a row.

February gold was down $4.70 to $838 per troy ounce, while April platinum dropped $14.10 to $1,525.40 per troy ounce.

March silver was up 3 cents to $14.92.

Among base metals, March copper dropped 3 cents to $3.04 per pound in New York but ended 6.4 percent higher on the year, its smallest yearly gain since 2001.

Crude oil prices were mixed on Monday amid predictions that they could go as high as $100 per barrel next year.

West Texas Intermediate crude for February delivery was 10 cents lower than Friday’s close at $95.90 per barrel just before the close of floor trade on the New York Mercantile Exchange, while February contracts for Brent crude added 36 cents to $94.24 per barrel on the ICE Futures Europe exchange in London.

Nymex February gasoline and heating oil each added 2 cents, to $2.49 per gallon and $2.65 per gallon respectively, while March natural gas was up 14 cents to $7.55 per million British thermal units.

Crude prices averaged $72 per barrel this year and the US Energy Information Administration has predicted that it will average $85 per barrel in 2008.

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