Platinum prices jump by nearly $60 per troy ounce

The price of platinum soared again today on the possibility that demand from China will help balance declines in demand elsewhere in the world.

In addition, prices were also pushed up as two platinum-based exchange-traded notes began trade on the New York Stock Exchange.

July platinum added $59.50 to $2,101.80 per troy ounce, while June gold was up $3.50 to $885.60 per troy ounce and July silver gained 2 cents to $16.98 per troy ounce.

Gold was up on a weaker dollar versus the euro and on oil prices that topped $126 per barrel in morning trade in New York.

Among base metals, July copper was down 7 cents to $3.72 per pound in New York while three-month copper dropped $162 to $8,138 per tonne in late afternoon trade in London for a price decline of 3.2 percent this week.