US platinum futures ended higher on Wednesday due to supply concerns following a national strike in top producer South Africa, and as miner Xstrata unveiled a take-over bid for platinum producer Lonmin. October platinum settles up $25.50, or 1.6 percent, at $1,610.00 an ounce, rebounding from a bottom of $1,571 in early sessions. Its high was $1,643.
December ends down $3.10 at $883.00 an ounce on the COMEX division of New York Mercantile Exchange. Gold, which is seen as a hedge against the falling dollar, was also hit by a stronger US currency. COMEX estimated final gold volume at 119,665 lots, with options turnover at 7,834 lots. Spot gold at $878.70/879.90 an ounce at New York's last trade, compared with $876.35/877.95 late Tuesday.
London's afternoon gold fix $879.50. September silver finishes down 6.7 cents at $16.505 an ounce. Ranged from $16.770 to $16.425 - a seven-week low. Estimated final volume 24,761 lots. Spot silver at $16.51/16.57, compared with $16.45/16.53 late Tuesday. London silver fix $16.74. September palldium closes up 20 cents at $354.10 an ounce. Spot palladium at $349.50/357.50.