Gold On 26-yrs Peak

Gold futures gained 1.6 percent to hit a 26 year peak on Thursday on Asia trading before retreating, and platinum reached an all-time high of $1,275 on persistent speculative buying.

Fund selling linked to a resurgent dollar dragged gold down to as low as $704.25 an ounce at one stage in Asian trading, but dealers said buying interest resurfaced around that level.

Spot gold rose as high as $712.50 an ounce before easing to $708.60/709.60 by 0630 GMT, still up from $701/702 late in New York on Wednesday.