Gold hits 3-week high on euro zone debt jitters

Reuters reports gold hit a three-week high on Wednesday, boosted by concern over the debt crisis in euro zone countries and a softer U.S. dollar.

The market news is quoted as saying,

Both platinum and palladium are used to make autocatalysts. Auto sales are expected to rise this year. Most analysts expect double-digit growth in 2011. Spot platinum was bid at $1,775.24 an ounce from $1,761.55 on Tuesday, palladium at $742.47 from $732.53. Earlier palladium saw a 3-week high of $744.00 an ounce.

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