Gold rose to its highest in a week on Monday, riding on a recovery in stock markets and a weaker US dollar against the euro before profit taking erased some of its gains.
Gold rose as high as $845.55 an ounce, its highest level since Jan 12, before slipping to $839.80 an ounce by 0635 GMT, down $2.05 from New York’s notional close, as oil prices reversed course and slipped.
Platinum was trading at $968.50 an ounce, up $22.00 from New York’s notional close on Friday. More than 60 percent of platinum use goes to autocatalysts to clean exhaust fumes.
Copper extends gains: Copper futures in Shanghai and London rose on Monday, adding to the big gains of last Friday, in largely rangebound trading ahead of the Lunar New Year holidays next week.
Shanghai copper for delivery in three months rose 2.8 percent to 28,240 yuan ($4,130) a tonne by 0335 GMT.
The contract jumped 4.1 percent on Friday following a 30 percent decline in Shanghai copper stocks last week.
Elsewhere in the base metals complex, Shanghai zinc was up 0.5 percent at 11,140 yuan and aluminium rose 1.2 percent to 12,140 yuan. reuters
