Gold, platinum see gains but silver drops

Precious metals prices were mixed in New York on Friday.

December gold was up $3.40 to $747.20 per troy ounce as the euro gained again in relation to the US dollar and analysts continued to speculate that the Federal Reserve will have to cut interest rates again this month as the housing market continues to struggle.

January platinum was also higher, adding $9.40 to $1,387.80 per troy ounce, but December silver was 1 cent lower to $13.49 per troy ounce after being as much as 19 cents lower earlier in the session.