Copper hits record high above $8,000

RTE Business - Copper hits record high above $8,000: "The price of copper smashed through $8,000 a tonne for the first time today, following the closure of a mine in key producer Mexico.
In morning trade on the London Metal Exchange, three-month copper prices reached $8,010 a tonne - the highest point since the metal was first listed in 1877.
The price of copper, used for electrical wiring and plumbing, has been boosted in recent months by supply problems, limited output and soaring demand from the booming economies of China and India.

Meanwhile, gold prices breached $700 for the first time in 25 and a half years in both London and New York yesterday as investors ploughed cash into the precious metal amid rising concerns over the Iranian nuclear crisis.
On the Comex, a division of the New York Mercantile Exchange, gold for June delivery touched $701.50 an ounce - the highest level since October 1980. On the London Bullion Market, the price of gold reached $700.80 an ounce for the first time since September 1980.
Platinum also climbed to a record high $1,236.50 an ounce on the London Platinum and Palladium Market. Investors have sought refuge in gold and platinum because both precious metals are seen as a safe store of value in times of geo-political uncertainty, notably the current Iranian nuclear energy crisis.The price of copper smashed through $8,000 a tonne for the first time today, following the closure of a mine in key producer Mexico.
In morning trade on the London Metal Exchange, three-month copper prices reached $8,010 a tonne - the highest point since the metal was first listed in 1877.
The price of copper, used for electrical wiring and plumbing, has been boosted in recent months by supply problems, limited output and soaring demand from the booming economies of China and Indi"