vishnuvega
17-07-2008, 09:01 AM
Gold bounced on Thursday after falling more than 1 per cent in New York on a drop in oil prices, while bargain hunters also plucked platinum from its lowest level in more than two months.
Gold hovered below a four-month high, while platinum suffered from fears of falling demand for autocatalysts as the US economy weakens and on news Toyota Motor Corp and General Motors Corpexpected declines in sales. Gold rose to $964.60/965.60 an ounce from $963.10/964.19 an ounce late in New York on Wednesday, with a rebound in oil offering additional support.
Gold hovered below a four-month high, while platinum suffered from fears of falling demand for autocatalysts as the US economy weakens and on news Toyota Motor Corp and General Motors Corpexpected declines in sales. Gold rose to $964.60/965.60 an ounce from $963.10/964.19 an ounce late in New York on Wednesday, with a rebound in oil offering additional support.