LONDON, Oct 2 (Reuters) - Gold prices fell more than 2 percent on Tuesday as a dollar rise prompted investors to take profits from the metal’s 28-year high, but analysts said the upward trend remained intact.

Platinum also lost steam after a fund-driven rally, with prices falling more than 3 percent after rising up to $1,391 an ounce on Monday, just $4 away from an all-time high.

Spot gold dropped to $731.20 before recovering to $734.35/735.05 an ounce by 0954 GMT, against $746.80/747.60 in New York late on Monday, when it rose up to $747.65 — the highest since January 1980.

“The dollar has strengthened marginally and it’s an illustration to me of how dependent on the dollar this bull market is,” said Stephen Briggs, economist at SG Corporate and Investment Banking.

“It was obviously going to be vulnerable to something like this because we haven’t really had a correction in gold on the way up. You can go down a lot further without seriously damaging the trend that we (have) had in place for several weeks now.”