LONDON: Gold dropped 1.8 percent on Friday as fresh gains in the dollar and news of an interest rate hike in India pushed the metal through support at $1,120 an ounce, triggering further selling. Spot gold hit a low of $1,104.05 an ounce and was bid at $1,105.65 an ounce at 1518 GMT, against $1,125.45 late in New York on Thursday. Among other precious metals, silver was at $17.02 an ounce against $17.35, platinum was bid at $1,607 an ounce against $1,627, while palladium was at $463.50 an ounce against $475 an ounce.
Copper buckles: Copper came under pressure on Friday. Benchmark copper on the LME was trading at $7,469 a tonne at 1441 GMT from $7,486 at the close on Thursday. Three-month nickel hit $22,900 a tonne, the highest since March 4. It traded at $22,525 a tonne compared with $22,760 at the close on Thursday. Zinc traded at $2,297 a tonne from $2,333, battery material lead at $2,225 a tonne $2,245 and aluminium at $2,253 a tonne from $2,276. Tin traded at $17,740 a tonne from Thursday’s last bid at $17,790. reuters
