Gold holds, but platinum and palladium down

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Associated Press

Posted on October 10, 2012 at 1:00 PM

Updated Wednesday, Oct 10 at 1:01 PM

NEW YORK (AP) — The price of gold is steady, but platinum and palladium are taking a hit on a rough day for the financial markets.

Platinum for January delivery and palladium for December delivery are both down 1 percent. The Dow Jones industrial average is down more than 100 points, partly because of concerns about global economic growth.

Sterling Smith, a futures specialist with Citi, says global growth is a nagging problem for the commodity markets.

In the energy markets, the price of crude oil fell more than $1 to $91.25. Prices for heating oil, wholesale gasoline and natural gas all rose.

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