US gold futures finished with moderate gains on Tuesday in a safe-haven play, but platinum group metals fell sharply, as investors feared credit issues in Europe could eventually spread out to the broader economy. COMEX June gold ended $4.0 higher at $1,198.0 an ounce on the New York Mercantile Exchange's COMEX division.
Range spanned $1,185.20 to $1,200.40. Comex estimated final gold futures volume at 259,852 lots. Spot gold quoted at $1,199.05 by 2:38 pm EDT (1838 GMT), up from $1,190.05 late in New York's previous session. COMEX July silver dropped 21.90 cents to finish at $17.7810 an ounce. Range ran from $17.53 to $17.99 an ounce. Comex estimated final futures volume at 35,064 lots. Spot silver at $17.81 an ounce, up from session low but below Monday's closing bid of $17.82.
July platinum tumbled $42.60, or 2.78 percent, to close at $1,491.90 an ounce. Spot platinum slipped to $1,497.0 from $1,526.50 late Monday. June palladium lost $23.15, or 5.10 percent, to settle at $430.40 an ounce. The industrial metal remains above last week's 3-1/2 month low of $391.20. Spot palladium was down in late trade at $434.0 an ounce from $444.50 previously.
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