US gold hits record high, near $1,120 an ounce
NEW YORK, Nov 11 (Reuters) - U.S. gold futures rose toward $1,120 an ounce on Wednesday near a record high set earlier in the session, boosted by a dollar decline and strong investment demand due to renewed interest by central banks toward bullion.
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GOLD
* COMEX December gold GCZ9 settles up $12.10, or 1.1 percent, at $1,114.60 an ounce on the New York Mercantile Exchange.
* Range spanned $1,105.60 to $1,119.10 -- an all-time high.
* Gold, equities and other commodities rise sharply as the dollar fell to a 15-month low against major currencies.
* Euro rises above $1.50 against the dollar, lending support to gold and other dollar-denominated commodities.
* Bullion holds gains despite a dollar bounce in late sessions.
* Market driven by worries about inflation and paper currency depreciation - Joseph Foster of Van Eck Gold Fund.
* Downbeat economic views by U.S. Federal Reserve officials and bullish Chinese economic data increase risk appetite.
* Low U.S. interest rates, economic uncertainty and geopolitical tension should support gold - MF Global.
* Gold-to-oil ratio down at 14.09 against 13.98 -- a late quote from the previous session.
* COMEX estimated 1 p.m. volume at 159,119 lots.
* Spot gold XAU= at $1,116.95 an ounce at 2:29 p.m. EST (1929 GMT), compared with $1,105.30 late in the previous session in New York.
* London's afternoon gold fix XAUFIX= at $1,115.25 an ounce.
SILVER
* December silver SIZ9 ends up 31.50 cents, or 1.8 percent, at $17.537 an ounce, up with gold and other precious metals.
* Ranged from $17.330 to $17.725.
* COMEX estimated 1 p.m. volume at 46,112 lots.
* Spot silver XAG= was at $17.54, against $17.32 in the previous session in New York.
* London silver fix XAGFIX= at $17.630.
PLATINUM
* January platinum PLF0 finishes up $18.40, or 1.4 percent, at $1,369.60 an ounce on investment buying, tagging on gold's strength.
* Spot platinum XPT= $1,363.50 an ounce.
PALLADIUM
* December palladium PAZ9 closes up $10.20, or 3 percent, at $345.40 an ounce, tracking platinum.
* Spot palladium XPD= $342.25 an ounce.
Close Change Pct 2008 YTD
Chg Close % Chg US gold GCZ9 1114.60 12.1 1.1 884.3 26.0 US silver SIZ9 17.537 0.315 1.8 11.295 55.3 US platinum PLF0 1369.60 18.40 1.4 941.50 45.5 US palladium PAZ9 345.40 10.20 3.0 188.70 83.0 Prices at 2:28 p.m. EST (1928 GMT) Gold XAU= 1116.80 11.50 1.0 878.20 27.2 Silver XAG= 17.55 0.23 1.3 11.30 55.3 Platinum XPT= 1364.50 15.00 1.1 924.50 47.6 Palladium XPD= 341.95 10.450 3.2 184.50 85.3 Gold Fix XAUFIX= 1115.25 0.50 0.0 836.50 33.3 Silver Fix XAGFIX= 17.63 37.00 2.1 14.76 19.4 Platinum Fix XPTFIX= 1365.00 0.00 0.0 1529 -10.7 Palladium FixXPDFIX= 340.00 2.00 0.6 365.0 -6.8 (Reporting by Frank Tang; Editing by Marguerita Choy)
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