Precious metals prices follow oil higher

Precious metals prices were higher Thursday as oil prices rose to new record highs and as the US dollar again declined in relation to the euro, to near-record lows before a slight bounce back.

December gold was $5.40 higher in New York to $771 per troy ounce, bringing its gains so far this year to 21 percent.

Meanwhile, December silver added 32 cents to $13.91 per troy ounce.

January platinum was up $10.70 to $1,453.70 per troy ounce, while December palladium gained $6.85 to $369.50 per troy ounce.

Some of platinum’s gains came after more South African mines were closed and others remained closed in the wake of five worker deaths in accidents in just over a week.