Nickel and precious metals advanced in the week ending 6 November 2026, while most other industrial metals fell. Nickel gained 5.5% to $16,281 per tonne, and platinum rose 7.1% to $1,535.70 per troy ounce. Copper lost 3.3%, finishing at the bottom of its 30-day range.
The Friday 6 November closing figures, published by metals.dev using London Metal Exchange reference prices and precious metals spot prices, showed a split across markets. All three precious metals gained over the week, but each remained lower over 30 days. Originally reported by Metal Rates (Metals.dev).
Nickel rises against broader industrial declines
Nickel was the only industrial metal in the figures to post a weekly gain. Its $16,281-per-tonne close also marked the top of its $15,124-$16,281 range over 30 days, leaving it 2.8% higher across that longer period.
Copper moved in the opposite direction, closing at $13,780 per tonne after its 3.3% weekly decline. It was down 4.5% over 30 days, with Friday's price matching the low of a range that extended to $14,658.
Zinc recorded the largest weekly fall among the industrial metals listed, dropping 4.0% to $3,736 per tonne. Its longer-period loss was narrower at 0.5%, and its closing price remained within a 30-day range of $3,681-$3,890.
Aluminium fell 0.9% over the week to $3,051 per tonne and was down 2.1% over 30 days. Its range for that period was $2,993-$3,096, while the supplied India-equivalent price stood at ₹286.93/kg.
Lead closed at $1,887 per tonne, a weekly decline of 1.7%, but retained a 0.2% gain over 30 days. It traded within a $1,874-$1,926 range during that period, putting Friday's close nearer the lower end.
Platinum leads precious metals higher
Platinum's 7.1% weekly rise was the strongest gain among all eight metals covered. Even after that advance, its $1,535.70-per-troy-ounce close left it down 6.5% over 30 days, during which prices ranged from $1,417.70 to $1,686.90.
Silver climbed 5.7% over the week to $51.94 per troy ounce, outpacing gold's percentage gain. However, it remained 12.2% lower over 30 days, the steepest longer-period decline in the figures, with a range of $49.14-$60.82.
Gold rose 5.1% to $4,071.67 per troy ounce, leaving it 1.5% below its level 30 days earlier. Its price range over that period was $3,875.65-$4,194.35, so the weekly advance left it short of the period's high.
Weekly gains and longer-term losses diverge
For buyers and sellers, the two time frames give different readings of price direction. Nickel combined a weekly rise with a 30-day gain, while the precious metals' advances contrasted with losses over the longer window. Lead showed the reverse pattern: a weekly fall but a small 30-day increase.
In general, industrial demand, supply conditions and the dollar are common influences on metal prices. Manufacturing and construction affect demand for industrial metals, while production and availability shape supply. Dollar movements can also change the cost of dollar-priced metals for buyers using other currencies.
The distinction between weekly and 30-day performance was particularly sharp for silver. Its 5.7% weekly increase ranked behind only platinum and nickel among the listed metals, yet its 12.2% decline over 30 days was substantially larger than any other loss in the group.
Originally reported by Metal Rates (Metals.dev).