By Virginia Harrison, MarketWatch
SYDNEY (MarketWatch) — Gold futures recovered from near 4-week lows in electronic trade on Wednesday as Japan’s stock market improved and buying picked up.
Gold for April delivery (GCJ11 1,400, +7.10, +0.51%) gained $5.20, or 0.4%, to $1,399 an ounce in electronic trading.
Wednesday’s improvement came as Asian markets rebounded off sharp falls prompted by the uncertainty over the nuclear crisis in Japan and the devastating earthquake and tsunami.
May copper (HGK11 422.55, +8.85, +2.14%) bounced off near 3-month lows, gaining 5 cents or 1.3%, to $4.18 a pound.
Silver also traded higher, while other precious metals eased.
Silver for May delivery (SIK11 3,439, +26.80, +0.79%) advanced 11 cents, or 0.3%, to $34.22 an ounce.
Palladium for June delivery (PAM11 712.20, +7.30, +1.04%) dropped $1.85, or 0.3%, to $703.05 an ounce, and sister metal platinum also fell, with the April contract (PLJ11 1,702, -3.20, -0.19%) down $16.50, or 1.0%, to $1,68.10 an ounce.
