Platinum wavers near one-week high

Platinum prices wavered on Wednesday near a one-week high hit yesterday, as the dollar rebounds against a basket of rivals from a three-month trough, stemming commodities' advances.
 
Platinum last traded at $998.60 an ounce, compared to the opening price of $999.05, with an intraday high at $1,001.85, and a low at $994.65.
 
Platinum rose earlier in the week after drawing support from dollar's decline against a basket of major rivals, while investors head for commodities amid tensions in the markets, underpinning platinum prices this week.
 
On the other hand, the dollar recovered today away from a three-month low, stemming platinum's advance according to their inverse relation, but strong manufacturing performance around the world kept underpinning the metal.
 
The dollar index, gauging the greenback versus an array of six major currencies, rose to 99.83 from the opening of 99.54, with an intraday high at 99.88, and a low at 99.50, ahead of the Federal Reserve's meeting today.