US gold ends up on cbank interest, near record
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:
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* 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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