http://uk.reuters.com/article/idUKN1954804620091019?rpc=401US gold futures end higher as dollar weakens
Mon Oct 19, 2009 8:28pm BST
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- NEW YORK, Oct 19 (Reuters) - U.S. gold futures ended higher
on Monday as a weaker dollar boosted bullion's appeal as a
hedge against the weakening value of paper assets due to
currency depreciation.
For the latest detailed report, click on [GOL/].
GOLD
* December gold futures GCZ9 settle up $6.60 at $1,058.10
an ounce on the COMEX division of the New York Mercantile
Exchange.
* Range from $1,048.60 to $1,063.30. December scaled a
record high $1,072 on Oct. 14.
* Dollar remains near recent lows on expectations that U.S.
interest rates will stay near zero.
* Gold's recent movements largely led by currency markets
rather than inflation.
* Investors favor gold for worries that global currency
depreciation could erode the value of paper assets.
* Any news to weaken dollar's reserve currency status would
be positive for gold - HSBC.
* Gold rise boosted by oil, which climbed above $79 per
barrel.
* Gold-to-oil ratio below 14 at 13.37, down tad from
previous session's 13.40.
* Pullback possible as noncommercial net longs hit record
high in week to Oct. 13 - CFTC data.
* COMEX estimated 1 p.m. volume at 79,782 lots.
* Spot gold XAU= at $1,060.70 an ounce at 3:04 p.m. EDT
(1904 GMT), against $1,050.80 late in New York in the previous
session.
* London afternoon gold fix XAUFIX= $1,050.50.
SILVER
* December silver SIZ9 ends up 20.5 cents, or 1.2
percent, at 17.625 an ounce.
* Silver tracks gold to move higher late in session.
* Range $17.270 to $17.750.
* COMEX estimated 1 p.m. volume at 18,953 lots.
* Spot silver XAG= was at $17.68, versus its previous
finish of $17.41 an ounce.
* London silver fix XAGFIX= at $17.52 an ounce.
PLATINUM
* January platinum PLF0 finishes up $15.70, or 1.2
percent, at $1,364.20 an ounce on better economic sentiment.
* Spot platinum XPT= was at $1,355.50, compared with its
previous finish of $1,341.
PALLADIUM
* December palladium PAZ9 closes up $3.75, or 1.1
percent, at $334.40 an ounce, up with platinum.
* Spot palladium XPD= was at $331, compared with its
previous session close at $326.50.
Close Change Pct 2008 YTD
Chg Close % Chg
US gold GCZ9 1058.10 6.6 0.6 884.3 19.7
US silver SIZ9 17.625 0.205 1.2 11.295 56.0
US platinum PLF0 1364.20 15.70 1.2 941.50 44.9
US palladium PAZ9 334.40 3.75 1.1 188.70 77.2
Prices at 3:03 p.m. EDT (1903 GMT)
Gold XAU= 1060.70 9.90 0.9 878.20 20.8
Silver XAG= 17.68 0.27 1.6 11.30 56.5
Platinum XPT= 1355.50 14.50 1.1 924.50 46.6
Palladium XPD= 331.00 4.500 1.4 184.50 79.4
Gold Fix XAUFIX= 1050.50 -4.00 -0.4 836.50 25.6
Silver Fix XAGFIX= 17.52 21.00 1.2 14.76 18.7
Platinum Fix XPTFIX= 1352.00 2.00 0.1 1529 -11.6
Palladium FixXPDFIX= 331.00 2.00 0.6 365.0 -9.3
(Reporting by Frank Tang; Editing by Walter Bagley)
