Gold eased on Monday after rising in New York on weakness in the dollar, while the most active contract in Tokyo platinum futures hit a record high on supply concerns. Spot gold dipped to $652.55/653.25 an ounce from $653.60/655.10 late in New York on Friday, when it gained more than $2.
Platinum fell to $1,295/1,300 an ounce from $1,296/1,301 an ounce late in New York on Friday, when it rallied to a two-week high of $1,301 on the risk of supply disruptions in South Africa. Key platinum futures on the Tokyo Commodity Exchange, currently April 2008, rose to a record high of 5,113 yen a gram.
Last week, a South African trade union threatened to declare a dispute with the world's third-biggest platinum producer, Linemen Plc, about working overtime.
Key April 2008 gold futures on TOCOM rose 3 yen per gram to 2,627 yen, reflecting gains in New York's Comex market. The dollar was slightly down from late US trading at 123.85 yen, but in sight of 124.14 hit on Friday, the highest level since December 2002. The euro was little changed from late New York at $1.3465. Silver eased to $13.01/13.05 an ounce from $13.04/13.08 late in New York.
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