LONDON - GOLD prices rose to their highest level since early December on Monday as new investor cash, stronger-than-expected Chinese import and export data and a weak US dollar helped propel precious metal prices.
Platinum, mainly used in auto catalysts, climbed to its highest level since Aug 7, 2008, while silver tracked gold to reach its highest price in more than a month.
The US dollar dropped afresh on Monday, after suffering its biggest fall in six weeks in the wake of disappointing US jobs data, while the Australian dollar soared on the back of strong export numbers from China.
'It's mostly dollar driven,' said Eugen Weinberg an analyst at Commerzbank. 'The market didn't track the jobs data too much but afterwards the effect was really pronounced.'
'The whole commodities sector is profiting strongly from it,' he added. 'Over the last couple of weeks, the investment money flowing into the market is up.'
A weak US currency makes metals priced in dollars less expensive for holders of other currencies. -- REUTERS
