Strong trade data from China has spurred hopes of higher demand for precious metals used in industry, The Wall Street Journal reported. Gold, for December delivery, rose US$24.60, or 1.9%, to settle at US$1,309.90 a troy ounce on the Comex division of the New York Mercantile Exchange on Thursday. Platinum for October delivery, the most actively traded contract, rose 3.7% to US$1,491.60 a troy ounce on the Nymex. “Industrial [precious metals] led us up, and gold followed” after the Chinese data showed stronger than expected trade data, said Frank McGhee, head precious metals dealer at Integrated Brokerage Services.
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