US gold futures hit a contract all-time high on Monday, despite early losses, as flight-to-quality demand due to credit market jitters more than offset lower crude prices and a stronger dollar.
Most-active December gold on the COMEX division of the New York Mercantile Exchange settled up $US2.30 at $US810.80 an ounce, after hitting a high of $US814.20, a contract all-time high.
Meanwhile, silver also finished sharply higher.
COMEX December silver closed up US 18.60 cents or 1.3 per cent to $US14.785 an ounce, trading between $US14.460 and $US14.880.
NYMEX January platinum ended up $US3.80 to $US1,466.50 an ounce.
December palladium dropped $US2.30 to close at $US375.10 an ounce.
NYMEX
US crude oil futures were slightly lower in choppy trading Monday, after recovering from a sharp fall.
The deep decline came with revived concerns about a credit crunch that sent equity markets lower.
On the New York Mercantile Exchange, December crude was down $US1.95 to $US93.98.
LME
Copper prices tumbled to seven-week lows on Monday with fears of falling demand and rising stock supplies.
Aluminium struck a three-month high and zinc wallowed around a 19-month low.
Copper for delivery in three months on the London Metal Exchange closed down at $US7,410 a tonne compared with an earlier intraday dip to $US7,350, the lowest since September 12.
Aluminium ended at $US2,610, down from $US2,622 on Friday.
Zinc, used for galvanising stainless steel, was at $US2,725 a tonne, down from $US2,769 on Friday when it hit a 19-month low of $US2,655 a tonne.
Tin was higher at $US16,725/16,775 from $US16,500/16,600, lead closed at $US3,695 from $3,713 and nickel at $US31,600 from $32,200.
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