CHICAGO, April 13 (Xinhua) -- Gold futures on the COMEX Division of the New York Mercantile Exchange rallied on Monday due to a weak dollar and concerns about General Motors' possible bankruptcy. Silver and platinum finished much higher, too.

    Gold price for June delivery gained 12.50 U.S. dollars, or 1.4 percent, to settle at 895.80 dollars an ounce, touching the intraday peak of 901.30 dollars, but failed to stand above the key level of 900 dollars.

    It was reported that the U.S. Treasury Department has directed GM to lay the groundwork for a bankruptcy filing by a June 1 deadline. The escalating possibility of GM's bankruptcy as well as the nervousness ahead of the bank's earning release pressured the equity market with the Dow industrials dropping more than 100 points early in the session, strengthening the safety appeal of gold.

    Shortly after gold closed in trading floor, the U.S. dollar index was down more than 1.3 percent and the rate against euro plummeted nearly 2 cents at 1.3364 dollars. Investors' safe-haven buying to hedge dollar risk and some bargain-hunting helped the precious metal climb toward 900 dollars an ounce, overweighing the bearish plunging crude oil in New York.

    May silver finished at 12.768 dollars per ounce, up 43.8 cent. July platinum rose 51.70 dollars to 1,247 dollars per ounce.