LONDON - Gold rose to $942 (U.S.) per ounce on Monday, clinging to recent rises in choppy trade as the U.S. dollar cut earlier gains, with renewed caution toward riskier assets also proving supportive.
Gold was at $941.90 per ounce at 1059 GMT, up from $938.05 quoted late in New York on Friday. The precious metal earlier hit an intra-day high at $942.50 but is some way off a two week high of $948.20.
In other precious metals markets.
Spot silver firmed to $14.07 per ounce, up from $14.06 quoted late in New York on Friday, while platinum dropped to $1,185.50 and palladium rose slightly to $245.50.
Copper
Prices rallied on Monday, echoing gains in equities as confidence seeped in that the global economy was improving, but gains were capped as market players bet recovery would be slow and painful.
Copper for three-months delivery on the London Metal Exchange traded at $5,062 a tonne at 0927 GMT from $5,035 at the close on Friday. Prices hit a day's high of $5,125.
Among other industrial metals, aluminum, used in transport and packaging, was at $1,640 from $1,647. Inventories rose 5,075 tonnes to within touching distance of a record high around 4.4 million tonnes.
Zinc was at $1,565 from $1,581 and battery material lead was at $1,695 from $1,715.
Tin was at $14,700 from $14,795. Tin was in a backwardation of $36/86 - a premium for cash material over the three-month contract - as investors eyed possible tightness in the market.
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