Gold gains and platinum surges to new record high |
| MarketWatch - Feb 15, 2008 |
Gold futures rose Friday, getting a boost from weakness in the U.S. dollar, as platinum futures hit another record high on persistent worries about supply disruptions in South Africa.
Platinum for April delivery soared to a record $2,075 an ounce Friday, beating the previous record set on Thursday.
The contract was last up $49.20 at $2,055 an ounce on the New York Mercantile Exchange.
Gold for April delivery gained $7.70 at $918.50 an ounce.
"The return of the weak dollar/strong oil scenario should prove supportive for gold in the coming sessions, particularly as comments from Fed Chairman Bernanke, and former Chairman Greenspan, yesterday reinforced the U.S. economy's proximity to recession," said James Moore, an analyst at TheBullionDesk.com, in a note.
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- Posted: 2008-02-15 10:17:54
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