Platinum and palladium each rose 1 percent on Tuesday on the back of lingering supply worries as South Africa sent more police to the strike-hit platinum belt to protect miners after four were killed returning to work over the weekend. Gold prices, meanwhile, eased 0.1 percent as investors digested news US retail sales braked sharply in April but that did little to change views the economy was poised for faster growth this quarter. An intraday record high in US equities, measured by the S&P 500 above 1,900 for the first time, kept a lid on the metal.
Spot platinum climbed 1.1 percent to $1,448.25 an ounce by 3:26 pm EDT (1926 GMT) and palladium rose 1.2 percent to $812.40 an ounce. US NYMEX platinum contract for July delivery settled up $14.10 at $1,456 an ounce, with volume at 13,000 lots, about 40 percent above its 30-day average, preliminary Reuters data showed.
Spot gold dipped 0.1 percent to $1,293.70 an ounce, while US COMEX gold futures for June delivery settled down $1 at $1,294.80. The yellow metal is still up 7 percent this year mainly because of a strong first quarter, with prices little changed from the beginning of April. Among other precious metals, silver inched down 0.1 percent to $19.49 an ounce.
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