Platinum, palladium prices see gains
by Elaine Frei
Precious metals prices gained Thursday as investors looked for safe places to put their money on uncertainty about whether plans announced by the Federal Reserve and other central banks to pump more money into global financial systems would be enough to stave off more bank failures brought on by the credit crisis.
October platinum was up $51.30 to $1,137.60 per troy ounce and December palladium gained $12.35 to $239.45 per troy ounce in New York.
Despite the gains, platinum is down 51 percent from its peak over $2,000 per troy ounce, reached in March, and palladium has dropped 37 percent since the beginning of the year.
December gold was above $900 per troy ounce for a time during the session but ended up $46.50 to $897 per troy ounce, while December silver jumped $1.03 to $12.70 per troy ounce.
Gold’s advance was limited by profit-taking after Wednesday’s record gains.
Among base metals, December copper added 2 cents to $3.07 per pound in New York.
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