Zinc rose to the highest in almost 16 months in London on concern that production will fail to keep up with demand amid supply curbs and shrinking inventories.
Gold rose in New York for the first time in three days as slumping U.S. home sales revived concern that the economy is weaker than forecast, spurring demand for the metal as a haven asset.
In a year when almost all metals are falling, record car sales and mining strikes mean the best forecasters are favoring platinum over gold as investors lose faith in bullion as a store of value.
Zinc prices advanced to a four-week high on speculation that global economic gains forecast by the International Monetary Fund will spur demand for the metal amid declining supplies.
Copper rose for the fourth time in five sessions as concern eased that the U.S. and global economies are faltering.
Copper futures rose to the highest in more than 11 weeks on speculation that the government will move to stoke the economy in China, the world’s biggest metals consumer.
Gold and silver futures capped the longest rallies since August as economic concerns boosted demand for the metals as alternative investments.
Gold capped the biggest advance since mid-October as the dollar weakened, boosting the appeal of the precious metal as an alternative investment. Silver reached the highest in almost three weeks.
Melek Says Fed Tapering Concern Driving Gold Down