Small losses gold, copper recovered

Gold traded lower on Monday as investors watched the G7 consultations on a ban on yellow metal imports from Russia.

US President Joe Biden tweeted on Sunday that the G7 would “ban imports of Russian gold”. The British government, meanwhile, has told the press that the United States, the United Kingdom, Japan and Canada have agreed to the ban, although a decision has not yet been taken at G7 level.

On the board, gold for August delivery lost $ 5.50, or 0.3%, to close at $ 1,824.80 an ounce after hitting a high of $ 1,842.80.

Silver made small gains, with the July contract adding 4 cents or 0.2% and closing at $ 21,168 per ounce. Copper gains were stronger, with the July contract rising 0.6% to $ 3.7625 a pound after last week’s slump of 6.8%.

In terms of the rest, platinum in July gained less than 0.1% to $ 904.10 per ounce, while palladium in September jumped to $ 4.60 or almost 2.6% to climb to $ 1,858.90. per ounce.