Gold gains on Iran worries

Gold prices were higher Monday on speculation that Israel or the United States are getting ready for an attack on Iran which sent investors looking for a safe place to put their money.

The metal also gained value after the dollar dropped versus the euro following gains early in the session.

August gold was $13.10 higher to $973.70 per troy ounce in New York while silver also saw gains, adding 43 cents to $19.25 per troy ounce.

Platinum, however, declined, dropping $11.20 to $2,036 per troy ounce on concerns that high oil prices and slow car and truck sales will blunt demand for the metal as a component in motor vehicle pollution-control devices.

Among base metals, September copper added 1 cent to $3.75 per pound in New York.