Platinum down 3 pct on weak gold,Tokyo sell off

Sun Apr 13, 2008 10:07pm EDT
 
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SINGAPORE (Reuters) - Platinum tumbled 3 percent on Monday after a surging U.S. dollar hit gold, and speculators liquidated positions in Tokyo futures.

Spot platinum hit a low of $1,940 an ounce, down from $2,002/2,007 late in New York on Friday - well below a lifetime high of $2,290 an ounce hit on March 4.

Gold dropped to $915.20/916.00 an ounce from $924.60/925.40 late in New York on Friday. The most active Tokyo platinum futures <0#JPL:> fell 260 yen per gram to 6,200 yen. (Reporting by Lewa Pardomuan; Editing by Louise Heavens)

 

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