CHICAGO, Dec. 31 (Xinhua) -- Pushed by the year-end short covering and oil's big rally, precious metals futures on the COMEX Division of the New York Mercantile Exchange climbed quickly and settled higher in the last trading day of 2008.
Gold price for February delivery rose 14.30 U.S. dollars, or 1.6 percent, to 884.30 dollars an ounce. March silver gained 31.5 cents to 11.295 dollars per ounce. April platinum ended at 941.5 dollars per ounce, up 24.1 dollars.
Analysts indicated it was the year-end short covering that pushed gold to climb sharply after it touched as low as 857.3 dollars during the early trade.
The U.S. dollar was mixed against other major currencies on the final trading day of 2008, but crude oil in NYMEX gained more than4 dollars when the gold ended in trading floor time, which provided strength to gold's soaring.
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