Commodities Traders Profited From Platinum And Palladium
On Monday the price of both platinum and palladium reached 18-month record high levels with platinum reaching $1,626 a troy ounce and palladium climbing to $457 an ounce. In a similar fashion to when the price of gold rocketed at the end of last year, Commodities Traders Profited From Platinum And Palladium prices which have offered lucrative positions.
Even though platinum and palladium headed the precious metals with gains of 1.5 per cent and 1.4 per cent respectively there were also other metals following suit too. On Monday there we quite a few commodities traders, at companies such as eToro, who profited from the weak US dollar which pushed the price of gold up once again. In London the price of gold recovered to $1,137.10 an ounce, which is a gain of $5.30 for the day, following a drop in price of nearly $12 on Friday.
Copper and aluminium both rose in value during Monday’s trading too. The increasing price of copper follows a rise in demand from Chinese importers who are looking to take advantage of the relatively low prices. The price of copper for delivery in three months’ time rose to $7,505 a tonne, which is an increase of 1.6 per cent while the price of aluminium rose 0.3 per cent to $2,307.50 a tonne.
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