Platinum gains ground for second straight day

Platinum prices rose on Friday for the second day in a row, nearing a ten-month high, as gold prices kept rising, encouraging investors to go for platinum. 

Platinum last traded at $1,076.25 an ounce, compared to the opening price of $1,065.75, with an intraday high at $1,077.55, and a low at $1,060.40, after dropping yesterday to a one-week trough at $1,051.45. 

Platinum managed to rise today with the support of gold and commodity prices, raising confidence in the precious metals markets as investors end their sell positions. 

On the other hand, the dollar is recovering further against major rivals for the fourth consecutive day on short-covering after hitting a 15-month trough on expectations the weak global economy will weigh on the American one. The dollar's rise today come despite downbeat employment data. 

The dollar index, which gauges the U.S. currency's performance versus an array of major rivals, last traded at 93.60, compared to the opening of 93.76, with a session-low at 93.22, and a one-week high at 93.83, which comes after the index hit a 15-month nadir earlier this week at 91.90.