Prices for industrial metals like copper rose as a brightening global economic outlook raised expectations for higher demand from the manufacturing sector.
Strong corporate earnings and rising stock indexes seemed to convince investors that demand will strengthen in coming months for metals like palladium, which is used in auto parts and other manufactured goods.
April platinum rose $32.10 to $1,833.00 an ounce, while copper for March delivery rose 8.85 cents to settle at $4.5470 a pound. March palladium gained $3.45 to $823.55 an ounce.
Precious metals also rose. Gold for April delivery gained $5.80 to close at $1,340.30 an ounce while silver for March delivery rose 34.5 cents to settle at $28.514 an ounce.