US gold ends up on cbank interest, near record

Tue Nov 10, 2009 7:51pm GMT
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 NEW YORK, Nov 10 (Reuters) - U.S. gold futures ended higher
on Tuesday, within sight of fresh record highs, supported by
renewed interest by central banks and as the dollar erased
initial gains.
 For the latest detailed report, click on [GOL/].
 GOLD
 * COMEX December gold GCZ9 settles up $1.10 at $1,102.50
an ounce on the New York Mercantile Exchange.
 * Range spanned $1,097.20 to $1,109.70. December hit an
all-time high $1,111.70 on Monday.
 * Bullion rises as the dollar erases initial gains after
rising broadly in early sessions.
 * Gold could rise to area between $1,150 to $1,200 an ounce
on low real interest rates, central banks interest - Goldman.
[ID:nN10309317]
 * India's gold purchase from the IMF indicates central
banks' interest to diversify away from the dollar - trader.
 * Investment demand seen as holdings of the world's largest
gold ETF SPDR Gold Trust (GLD: Quote, Profile, Research) rose 6 tonnes on Monday.
 * Currency and inflation worries boost gold due to monetary
easing and fiscal spending expectations - traders.
 * Gold-to-oil ratio down at 13.98 against 13.87 -- a late
quote from the previous session.
 * Growing inflation expectations are being factored into
gold. For a graph showing the correlation between the 10-year
TIPS and gold prices, click here:
 here
 * COMEX estimated final volume at 150,236 lots.
 * Spot gold XAU= at $1,104.30 an ounce at 2:26 p.m. EST
(1926 GMT), compared with $1,103.85 late in the previous
session in New York.
 * London's afternoon gold fix XAUFIX= at $1,101.50 an
ounce.
 SILVER
 * December silver SIZ9 finishes down 25.80 cents, or 1.5
percent, at $17.222 an ounce, falling with platinum and
palladium.
 * Range from $17.160 to $17.650.
 * COMEX estimated final volume at 41,715 lots.
 * Spot silver XAG= was at $17.28, against $17.57 in the
previous session in New York.
 * London silver fix XAGFIX=  at $17.260.
 PLATINUM
 * January platinum PLF0 ends down $16, or 1.2 percent, at
$1,351.20 an ounce on profit-taking after Monday's precious
metals rally.
 * Spot platinum XPT= $1,342 an ounce.
 PALLADIUM
 * December palladium PAZ9 closes down 75 cents at $335.20
an ounce, tracking platinum.
 * Spot palladium XPD= $332.55 an ounce.
                     Close  Change   Pct     2008    YTD
                                     Chg   Close   % Chg
US gold      GCZ9    1102.50     1.1   0.1   884.3    24.7
US silver    SIZ9     17.222  -0.258  -1.5  11.295    52.5
US platinum  PLF0    1351.20  -16.00  -1.2  941.50    43.5
US palladium PAZ9     335.20   -0.75  -0.2  188.70    77.6
Prices at 2:01 p.m. EST (1901 GMT)
Gold         XAU=    1102.50   -1.35  -0.1  878.20    25.5
Silver       XAG=      17.24   -0.33  -1.9   11.30    52.6
Platinum     XPT=    1342.00  -15.50  -1.1  924.50    45.2
Palladium    XPD=     331.00   0.000   0.0  184.50    79.4
Gold Fix     XAUFIX= 1101.50    1.75   0.2  836.50    31.7
Silver Fix   XAGFIX=   17.26  -42.00  -2.4   14.76    16.9
Platinum Fix XPTFIX= 1354.00    0.00   0.0    1529   -11.4
Palladium FixXPDFIX=  333.00    1.00   0.3   365.0    -8.8
 (Reporting by Frank Tang; Editing by Lisa Shumaker)






 
 
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