COMMODITIES-Oil under record, gold, platinum retreat

Mon Jul 7, 2008 9:43am BST
 
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* Iran concerns keep oil just under record

* Stronger dollar weighs on gold, platinum

* Corn, rubber prices drop

By James Regan

SYDNEY, July 7 (Reuters) - Oil held just below last week's record prices on concerns over Iran's nuclear aspirations while a stronger U.S. dollar put gold and other precious metals in retreat on Monday.

Soft commodities, such as corn and rubber, were also lower.

U.S. light crude for August delivery traded at $143.78 a barrel by 0702 GMT versus a record $145.85 hit on Thursday.

Iran on Saturday vowed to pursue its enrichment programme, saying it had no intention of discussing its "right to enriching uranium".

"Geopolitical concerns are still supporting oil prices," said Toby Hassall, an analyst at Commodity Warrants Australia in Sydney.  Continued...

 
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