Commodity Online

NEW YORK : Gold and other precious metal follwed oil on their journey south on Wednesday as gold itself pared back heavier losses overnight.

June gold was lower by $US8.80 at $US918 a troy ounce on the Comex division of the New York Mercantile Exchange.

Several traders cited early weakness in crude oil as a factor undercutting the precious metals. Crude had recovered most of its loss by the end of gold pit session, however, and gold roughly cut its earlier loss in half.

In other metals trading, May silver slid US41.2 cents to finish at $US17.708 an ounce and July platinum fell $US17.30 to $US2029.60 an ounce.

June palladium was stronger by US25c at $457.40 an ounce. The most active May copper contract fell US8.9c on fund selling and finished at $US3.8905 a pound.