US gold rises on safe-haven flow, credit fears

NEW YORK, April 20 (Reuters) - U.S. gold futures rose
nearly 2 percent on Monday as safe-haven demand related to
renewed credit worries more than offset lower investment
interest in gold exchange-traded funds.

For the latest detailed report, click on [GOL/].

GOLD

* Gold for June delivery GCM9 rose $14.30, or 1.7
percent, at $882.20 an ounce at 10:19 a.m. EDT (1419 GMT) on
the COMEX division of the New York Mercantile Exchange.

* Ranged from $865.60 to $884.70.

* June futures jumped as U.S. stocks broadly dropped more
than 2 percent, stirred by worries that problems would persist
for the struggling banking sector.

* U.S. financial shares were heavily sold on Monday, as
Bank of America (BAC.N) posted a big increase in troubled
loans, and its CEO said "credit quality will get worse before
it will eventually stabilize and improve."

* Gold supported as financial fears returned, but a
stronger dollar kept the metal from rising further - George
Gero, vice president of RBC Capital Markets Global Futures.

* Bullion prices may rise this week because of Akshaya
Tritya festival, India's gold-buying festival, on April 27 -
analysts.

* The futures market largely ignored news that the SPDR
Gold Trust ETF (GLD) saw its largest two-day outflow since
early September last week, with its total holdings falling for
a second day on Friday. [GOL/SPDR]

* Noncommercial net long positions rose 2,083 to 129,895
lots, while open interest fell 2.3 percent to 336,930 contracts
in the week up to April 14 - CFTC report.

* Gold also rose in spite of a more than 7 percent decline
in crude oil prices on worsening economic outlook.

* Gold/oil ratio at 18.8 on Monday, compared with 17.3 in
the previous session.

* Spot gold XAU= traded at $880.75 an ounce, up 1.5
percent from its late Friday quote in New York.

* The London afternoon gold fix XAUFIX= was $877.00 an
ounce.

SILVER

* COMEX May silver SIK9 climbed 31.0 cents, or 2.7
percent, to $12.100 an ounce, following gold's gains.

* Ranged between $11.725 and $12.165.

* Spot silver XAG= was at $12.11 an ounce, up 2.3 percent
from its previous finish.

* The London silver fix XAGFIX= at $12.060 an ounce.

PLATINUM

* NYMEX July platinum PLN9 fell $27.10, or 2.2 percent,
to $1,184.50 an ounce on worries about the global economy
because of a still battered banking system.

* Spot platinum XPT= at $1,176.00 an ounce, down 2.4
percent from its late Friday quote.

PALLADIUM

* June palladium PAM9 dropped $1.75 to $231.80 an ounce
in sympathy with platinum's decline.

* Spot palladium XPD= was at $227.50 an ounce, off 1.7
percent from its previous finish.
(Reporting by Frank Tang; Editing by Lisa Shumaker)