LONDON: Gold pared gains after rising 1.2 percent on Tuesday as the dollar’s rise after key US data prompted bullion investors to trim trading positions, but record high oil prices underpinned the market.

Gold slipped to a two-month low of $872.90 an ounce in early April after hitting a record high of $1,030.80 on March 17.

In other markets, US gold futures for June delivery rose $3.00 an ounce to $931.70 an ounce. Spot platinum rose to a high of $2,000 an ounce and was last quoted at $1,962/1,992, against $1,958/1,968 in New York. Silver was down seven cents at $17.71/17.76 an ounce, and palladium fell $4 to $455/460 an ounce.

Copper edges up: Copper edged up on Tuesday as investors were caught between fears of lower US demand.

Copper for delivery in three months on the LME, seen by investors as a gauge of real economic activity, was up $34 at $8,589 per tonne by the end of the official open outcry session.

Tin was the strongest performer on the LME. It was quoted at $21,095/21,100 by the end of the official open outcry session. In other metals, aluminium down $6 to $3,039 from Monday’s close at $3,045/3,055. Zinc was unchanged at $2,300 per tonne, lead was down $20 to $2,900 and nickel was down $150 at $28,850. reuters