Platinum fell more than 3 percent on concerns about falling demand for autocatalysts, while Gold bounced on Monday on speculative buying driven by higher oil ahead of Hurricane Gustav.

Manager of precious metals at Heraeus Ltd in Hong Kong, Dick Poon said:

There's some resistance on the top side. I think it's mostly related to strong U.S. dollar. The market is still consolidating right now around $800 to $850.

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