Gold, silver prices gain as platinum falls back slightly
by Elaine Frei
Metals prices were mixed on Wednesday, with gold and silver higher as platinum fell from record highs.
April gold added 8 to $937.80 per troy ounce as investors looked for a hedge against inflation after oil prices rose above $100 per barrel and US consumer prices were reported up in January.
March silver was also higher, gaining 25 cents to $17.76 per troy ounce.
April platinum was $14.30 lower to $2,138.80 per troy ounce shortly before the close of floor trade in New York on worries that record high prices could hurt demand.
Demand for platinum to make jewelry has already dropped sharply.
Among base metals, copper was lower in the US and in London after reports that US housing starts remained at very low levels in January and the number of new building permits issued were down 3 percent last month.
May copper in New York fell 1 cent to $3.72 per pound while 3-month copper on the London Metal Exchange dropped $19.75 to $8,170.25 per tonne.
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