Boosted by the rapid increase in platinum prices, and despite a slightly stronger U.S. dollar, the price of gold was up. The platinum group metals (PGMs) prices hit multi-month highs on Monday, due to investment demand and the expectation that industrial consumption will improve shortly.
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On Tuesday afternoon, spot gold was trading at $1138.20 which has increased from $1,132.60 on Friday.
On the same day, spot platinum was bid at $1,634.00, compared to $1,600.00 on Friday. The precious metal had also recently hit its highest price since August, 2008.
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