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Coin Collecting NewsGold edges up; platinum hits record high
NEW YORK — Gold futures traded steady near $985 an ounce Tuesday following strong gains in the previous session, while platinum futures surged to a record high.
Gold for April delivery gained $1.80 at $986 an ounce on the New York Mercantile Exchange. On Monday, gold hit a record of $992 an ounce.
Early Tuesday, April platinum futures vaulted to a record high of $2,308.80 an ounce, surpassing the record set in the previous session. The platinum contract was last up $28.40 at $2,270.0 an ounce.
“Gold has remained underpinned this morning and given the ongoing concerns towards the U.S. economy and the pressure this is putting on the greenback, it seem inevitable gold will challenge the $1,000-an-ounce level in the very near future as investors diversify towards stronger-yielding assets,” said James Moore, an analyst at TheBullionDesk.com, in a research note.
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