US gold hits record high, near $1,120 an ounce

Wed Nov 11, 2009 7:48pm GMT
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 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.
 For the latest detailed report, click on [GOL/].
 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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