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Platinum, palladium rise alongside gold

BusinessWeek – Platinum and palladium prices rose Thursday alongside gold prices, though the gains were dampened somewhat by falling oil prices and a stronger dollar.

Precious metals are often bought to hedge against a weakening dollar.

Platinum futures for October delivery rose $43.50 to settle at $1,484.20 an ounce on the New York Mercantile Exchange.

Palladium futures for December delivery rose $6.50 to settle at $296.10 an ounce.

A note from a UBS analyst encouraging investors to buy gold boosted precious metals.

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