Gold firms near $1,125; platinum slides to 6-1/2-year low

23-Sep (Reuters) — Gold rose after two days of losses on Wednesday as equities took a hit from weak Chinese factory data, while platinum slid to a fresh 6-1/2-year low as investors feared a drop in demand from the auto industry.

Platinum fell to $925.30 an ounce, its lowest since January 2009, before recouping losses to trade up 0.3 percent at $936.55 by 0722 GMT.

The metal has been hurt by news of Volkswagen AG’s falsification of U.S. vehicle emission tests as investors believed it could affect demand for diesel cars. Platinum is used in diesel catalysts.

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PG View: Gold is now trading above 1130.00. Platinum has rebounded somewhat, but the trend remains bearish.