Gold price eases after four-day rally as dollar firms

Jul 24 2013, 18:12 IST
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SummarySpot prices rose as high as $1,347.69 an ounce on Wednesday, their highest since June 20.

$20.28 an ounce. The gold/silver ratio -- the number of silver ounces needed to buy an ounce of gold -- held at 65.9 on Wednesday, close to Friday's near three-year high.

Spot platinum was down 0.3 percent at $1,443.49 an ounce, while spot palladium was down 0.6 percent at $734.72 an ounce.

Aquarius Platinum said on Wednesday fourth-quarter production rose 22 percent boosted by improvements at its Kroondal mine in South Africa but warned of a still "difficult and complex" environment for platinum producers.

Platinum group metals have been supported during gold's fall this year by concerns over the prospect of supply disruptions from major producer South Africa, source of three out of four ounces of the world's platinum output.

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