NEW YORK, Oct 4: Gold held onto moderately lower levels after the US House of Representatives voted to pass a $700 billion bill to bail out the US financial system, despite a slide in the dollar against the euro.

Analysts said they thought most investors who wanted to exit gold as a safe haven play if the bill passed likely did so during Thursday’s rout.

I think people who wanted to get out got out already. They postured themselves ahead of time, because they thought the bill was going to pass and it did.

There’s no reason for further flight to quality if you feel the bill is going to pass, said Scott Meyers, Pioneer Futures Inc, senior trading analyst in New York.

Meanwhile, platinum hit a low dating back to November 2005 at $936.50 an ounce as economic weakness and dismal car sales, especially in the United States, have dampened demand for the metal.

Used in autocatalysts, platinum has fallen about 60 per cent from its record high of $2,290 an ounce hit in March.

A sharp 159,000 decline in US nonfarm payrolls in September, well below the 100,000 loss forecast by economists and below August’s revised decline to a 73,000 jobs loss, maintained nervousness in financial markets.—Reuters