Spot platinum hit an intraday high of $1,391 an ounce and reached closer to last November's record high of $1,395. It was quoted at $1,390.70/1,397.70, versus New York's previous finish of $1,385/1,390.

Dealers noted a lack of physical buying, with Chinese consumers away during the week-long holiday which started on Monday. Investors also digested news that a Japanese automaker had developed a technology to cut platinum use.

Japan's Mazda Motor Corp said it developed the world's first car catalyst employing technology that slashed platinum and palladium use by up to 90 percent.

Platinum is a soft, ductile metal that is resistant to oxidation and high-temperature corrosion. Automakers have been hit by high metal prices and are looking for ways to reduce material use to save costs.

Silver was essentially flat compared with Friday's close of $13.71/13.76 an ounce in New York, while palladium gained to $354.80/358.80 an ounce, its highest since mid-August, from its prior finish of $343.00/348.00.