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.