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CORRECTED - CORRECTED-Platinum hits record on supply, gold rises

Sun Feb 10, 2008 11:02pm EST
 
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 (Corrects price of Comex gold in second last paragraph to
$927.1 an ounce, not $827.1, also corrects the ask price for
silver in New York in last paragraph)
 SINGAPORE, Feb 11 (Reuters) - Platinum hit another record
high on Monday on the back of lingering supply concerns in
South Africa, which produces four-fifths of the world's metal,
while gold firmed near an historic high.
 -- Platinum <XPT=> rose to $1,886/1,894 an ounce from
$1,880/1,888 late in New York on Friday.
 -- South Africa has appealed to mining companies for help
in cutting power consumption to ease a power crisis caused by
the failure of electricity generation to match economic growth.
 -- Spot gold <XAU=> firmed to $923.00/924.50 an ounce from
$918.00/918.70 an ounce in New York and held near a record high
of $936.50 an ounce hit in early February.
  -- Markets in Tokyo were closed for a holiday. The
benchmark platinum futures contract <0#JPL:> on the Tokyo
Commodity Exchange ended 130 yen per gram higher at 6,143 yen
on Friday.
 -- The dollar held mostly steady on Monday after a weekend
Group of Seven meeting acknowledged growing risks to the global
economy and kept comments on currencies almost unchanged from
the October statement. [ID:nT285148]
 -- The euro edged up to $1.4520 <EUR=> from late in New
York on Friday, with trade very thin as Tokyo was closed on
Monday while China was still celebrating Lunar New Year.
 -- Palladium <XPD=> hit a high of $437 an ounce, matching
Friday's 6-year high. It was quoted at $436/441 late in New
York.
 -- COMEX's April gold futures GCJ8 rose $4.8 an ounce to
$927.1 an ounce.
 -- Silver <XAG=> edged up to $17.20/17.25 an ounce from
$17.10/17.15 in New York.
 Precious metals prices at 0047 GMT
 Metal             Last    Change  Pct chg  YTD pct chg
Turnover
 Spot Gold         923.00   -0.50   -0.05     10.84
 Spot Silver        17.20    0.03   +0.17     16.45
 Spot Platinum    1887.00    7.00   +0.37     24.14
 Spot Palladium    437.00    1.00   +0.23     18.75
 Euro/Dollar       1.4540
 Dollar/Yen        107.39
 TOCOM prices in yen per gram, except TOCOM silver which is
priced in yen per 10 grams. Spot prices in $ per ounce.
 (Reporting by Lewa Pardomuan; Editing by Tomasz Janowski)




































 

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