Gold gains while platinum, silver see declines

Precious metals prices were mixed in New York on Wednesday.

December gold was $7.10 higher to $798.50 per troy ounce on oil prices that traded as high as $99.29 per barrel at one point before ending lower for the day and on another decline for the US dollar.

Some analysts are predicting that gold prices will reach somewhere between $850 and $1,000 per ounce next year.

Silver for December delivery, on the other hand, dropped 8 cents to $14.42 per troy ounce, while January platinum fell $2.50 to $1,467.20 per troy ounce.