Platinum hits new high in New York

Precious metals prices were higher on Tuesday, platinum reaching a new high and gold and silver both hitting long-term highs on the session.

The gains came as the euro reached another new high in relation to the US dollar.

January platinum added $17.20 to $1,483.70 per troy ounce in New York, the highest on record for a most-active contract, to bring its gains to 29 percent so far this year.

Platinum prices were also supported by continued problems at South African mines, with the National Union of Mineworkers threatening to strike over safety issues after a series of accidental deaths of miners.

December gold ended the New York session $13 higher at $823.80 per troy ounce after going as high as $828 per troy ounce, its highest level since January 1980.

Silver for December delivery also reached a long-term high at $15.54 per troy ounce before dropping back to $15.37 per troy ounce, a gain of 59 cents on the session.

Earlier in the day December palladium had added $5 to $380.10 per troy ounce.