Precious metals follow crude oil higher

Precious metals prices were higher Tuesday after crude oil prices jumped to a new record high in New York at nearly $114 per barrel and after US producer prices were reported up by more than expected in March, led by gains in food and energy prices.

June gold added $4 to $932.70 per troy ounce in early afternoon trade as investors looked for places to put their money that were safe from inflation.

At the same time, May silver was up 4 cents to $17.83 per troy ounce while July platinum jumped $33.50 to $2,015.

Among base metals, May copper was down 4 cents to $3.86 per pound.