Gold Near its Historic High

Gold and platinum held near their historic highs on Monday on worries over supply after South African mining companies suspended operations due to a power crisis.

Spot gold rose to $916.80 an ounce from $914.00 late in New York. Gold rallied to record high of $923.40 an ounce on Friday, with dealers expecting the metal to crack the upside target of $950 in coming weeks.

Platinum hit an intraday high of $1,687 an ounce before slipping to $1,666.50/1,671.50, down from
$1,671.50/1,676.50 an ounce in New York.