US gold eases but holds near $1,000 on weak dollar

NEW YORK, Sept 9 (Reuters) - U.S. gold futures rose
slightly in largely mixed trade on Wednesday as prices held
near $1,000 an ounce on the back of a sharp decline of the
dollar amid growing risk appetite, boosting bullion's appeal as
a currency hedge.

For the latest detailed report, click on [GOL/].

GOLD

* December gold GCZ9 up $1 at $1,000.80 an ounce at 10:02
a.m. EDT (1402 GMT) on the COMEX division of the New York
Mercantile Exchange.

* Ranging from $994.20 to $1,005.

* The U.S. dollar fell to a near one-year low against a
basket of major currencies, extending sharp decline from the
previous day, as higher global equities bolstered risk
appetite. [USD/]

* The U.S. dollar direction is likely to determine gold's
near-term path. Should further questions concerning the
dollar's role as a global reserve currency arise, gold is
likely to rally near term - James Steel, chief commodities
analyst at HSBC.

* Analysts also cautioned that the price of gold could be
susceptible to correction at near record high levels, as some
believed the market was overbought.

* The likely response to gold at $1,000 an ounce will be
for the recycled scrap market to increase and jewelry demand to
contract. In the longer term, this may undermine the rally -
Steel.

* COMEX estimated 9 a.m. volume at 51,236 lots.

* Gold/oil ratio at 13.93, down from the previous session's
13.98.

* Spot gold XAU= at $998.75 an ounce, against $995.20 in
the previous session in New York.

* London morning gold fix XAUFIX= was at $995.75 an
ounce.

SILVER

* December silver SIZ9 up 9.5 cents at $16.605 an ounce,
following gold's rally.

* Silver futures recently have outperformed gold, helped by
better economic sentiment. Usually less-liquid silver has the
characteristics of both precious and industrial metals.

* Ranged from $16.255 to $16.750 an ounce.

* COMEX estimated 9 a.m. volume at 12,391 lots.

* Spot silver XAG= at $16.55 an ounce, versus its
previous close of $16.41.

* London silver fix XAGFIX= was at $16.24 an ounce.

PLATINUM

* October platinum PLV9 up $2.80 at $1,292.40 an ounce as
better economic sentiment supported platinum group metals,
which are largely used as industrial metals.

* Spot platinum XPT= at $1,284 an ounce against $1,283.

PALLADIUM

* December palladium PAZ9 down 85 cents at $297.75 an
ounce, retreating from the previous session's contract high.

* Spot palladium XPD= at $293 an ounce, against its
previous finish of $294.
Prices at 10:05 a.m. EDT (1405 GMT)

Last Change Pct 2008 YTD

Chg Close % Chg
US gold GCZ9 1000.80 1.00 0.1 884.30 13.2
US silver SIZ9 16.610 0.100 0.6 11.295 47.1
US platinum PLV9 1291.00 1.40 0.1 941.50 37.1
US palladium PAZ9 297.75 -0.85 -0.3 188.70 57.8
Gold XAU= 998.75 3.55 0.4 878.200 13.7
Silver XAG= 16.55 0.14 0.9 11.30 46.5
Platinum XPT= 1283.00 0.00 0.0 924.50 38.8
Palladium XPD= 293.00 -1.00 -0.3 184.50 58.8
Gold Fix XAUFIX= 995.75 -5.00 -0.5 836.50 19.0
Silver Fix XAGFIX= 16.240 -0.510 -3.0 14.760 10.0
Platinum Fix XPTFIX= 1280.00 0.00 0.0 1529.00 -16.3
Palladium Fix XPDFIX= 296.00 0.00 0.0 365.00 -18.9
(Reporting by Frank Tang; Editing by Lisa Shumaker)