Commodity Online

NEW YORK: Gold futures on Monday managed a modest gain when long liquidation pressure offset much of the safe haven strength that earlier pushed it to record highs.

April gold rose $US3.10 to $US1002.60 an ounce on the Comex. Most active April gold hit a contract high overnight of $US1033.90 an ounce. Later, lightly traded but nearby March hit a spot contract record $US1014.60.

As pit trade was closing, the April contract at the Chicago Board of Trade was up $US1.70 to $US1001.50.

Other precious metals were harder hit by the profit taking pullback and all finished in the red.

April platinum tumbled $US102.60 to $US1973.40 an ounce, while June palladium lost $US29.10 to $US485.30.

The most active May copper contract fell US14.3 cents, or more than 3.7 per cent, to settle at $US3.6850 per pound on the Comex.

Gold