Platinum and palladium continue to climb

AP News
Posted: Feb 05, 2013 3:48 PM

Platinum and palladium are climbing on expectations that demand for the metals will stay steady as supplies drop.

March palladium rose $7.65, or 1 percent, to settle at $765.45 per ounce. April platinum gained $9.10 to $1,707.20 per ounce.

Reports of stronger car sales have helped pushed prices for the metals up more than 1 percent this week. Both metals are used to make catalytic converters that filter car exhaust.

Other metals were mixed. Gold for April delivery lost $2.90 to $1,673.50 per ounce.

Silver for March delivery rose 15.9 cents to $31.875 per ounce. March copper was little changed at $3.77 per pound.

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In other trading, wheat and corn dropped slightly while soybeans rose.

Benchmark oil for March delivery rose 47 cents to finish at $96.64 a barrel.