Gold rides on rising oil

Gold gained nearly 1 percent on Tuesday as investors sought havens from volatile stock markets after a US bailout package to rescue distressed banks failed to calm fears. Talks that other central banks would follow Australia's move to cut interest to stem the worsening credit crisis barely affected gold, which was also driven by a recovery in oil. Platinum jumped more than 3 percent on bargain hunting.
Platinum was trading at $984.50 an ounce, up 23.00 from New York's notional close on a technical rebound, having fallen to its weakest since November 2005 at $920 on Monday on fears of falling demand for autocatalysts.