SHANGHAI, Dec. 3 (SMM) -- LME metal prices hit new highs on Wednesday due to increasing investment funds, while LME lead prices slipped after hit 18-month high, with a sign of stabilizing in the short term, and the low-end price has been lifted to USD 2,400/mt.
The US dollar against Japanese yen advanced for two consecutive trading days, since market expectations that the Japanese government will intervene in the foreign exchange market improved. The US dollar climbed against most currencies, but showed modest upward trend against euro, and the US dollar index closed at 74.568. On COMEX market, gold futures for February delivery increased by USD 12.8/oz to USD 1,213/oz, while silver futures for March delivery increased by Cents 11.5/oz to USD 19.325/oz.
SMM predicts domestic lead prices will be around RMB 16,100/mt today.
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