During the last month precious metal prices remained the same or moved higher as non-ferrous base metal prices decreased across the board. The dollar also improved against all other currencies, which was based more on problems in the Euro Zone than an improving American economy. Accelerated electronic trading sent the Dow Jones Industrial average into a 1,000-point freefall over the course of five minutes on May 6 before the exchange halted trades. The market righted itself and regained some losses. That market uncertainty pushed gold prices above $1,200/oz. Gold prices climbed steadily throughout April from $1,124/oz to $1,180/oz. In early May it pulled back to $1,165/oz before surging ahead to new highs. Silver traded between $17.50/oz and $18.50/oz during April. It opened at $18.75/oz in May before pulling back to below $17.75/oz.

Month-on-month, platinum showed a 1% gain, but prices actually swung as high as $1,750/oz in late April before pulling back to present levels. Palla-
dium followed a similar pattern of building in late April to $570/oz before pulling back. Palladium finished 6% higher month-on-month.

Copper and zinc prices both fell around 11% in the last month. Copper dropped to $3.16/lb from $3.54/lb. Zinc prices settled at $0.95/lb from $1.07/lb. Aluminum and lead prices pulled back 10% and 8% respectively. Almost all of the base metals prices held steady through April before showing steep declines at the end of the month. Aluminum would be the exception. Aluminum prices started to slide mid-month.

The dollar gained strength across the board. Riots erupted in Greece when the government announced austerity measures to begin restoring the country’s financial matters. The Euro lost 6% to the dollar falling to $1.27. With the exception of the Chinese yuan, the other currencies listed in E&MJ’s Prices Index fell against the dollar, the British pound (-2.5%), the Canadian dollar (-2.8%), the Australian dollar (-3.2%), and the South African rand (-4.3%).