US gold rises to record highs for second day

NEW YORK, Oct 7 (Reuters) - U.S. gold futures rose to
record highs for a second straight session on Wednesday as
investors sought the metal amid mounting worries about
potential inflation that encouraged investors to buy the
precious metal.

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

GOLD

* Most-active December gold futures GCZ9 up $4.30 at
$1,044 an ounce at 11:15 a.m. EDT (1515 GMT) on the COMEX
division of the New York Mercantile Exchange.

* Ranging from $1,037.80 to $1,049.70 - a record high.

* The U.S. dollar rose on Wednesday, rebounding from a low
of more than eight months against the yen as optimism from the
prior session dissipated.

* However, market watchers still on the fence about the
dollar's strength as massive U.S. fiscal and monetary stimulus
is expected to eventually weaken the greenback.

* Gold's rise is not a dollar phenomenon but an
"anti-currency" phenomenon as money is flowing away from almost
any and all currencies - Dennis Gartman, independent investor
and publisher of the daily Gartman Letter.

* Renowned investor Jim Rogers, one of the biggest bulls on
this decade's commodities rally, is not so bullish on gold a
day after the precious metal set a record high, although he
does see further gains in the long term. [ID:nSP316732]

* The world's largest gold-backed ETF, the SPDR Gold Trust
(GLD), said its holdings stood at 1,100.514 tonnes as of Oct.
6, up 0.2 percent or 2.441 tonnes, from the previous business
day for the third consecutive day of increase. XAUEXT-NYS-TT

* On Tuesday, the December contract fresh all-time high
surpassed the previous record for the active contract of
$1,033.90 set in March 2008.

* Oil prices traded flat following Tuesday's gains.

* Gold-to-oil ratio at 14.72, up from the previous
session's 14.62.

* COMEX estimated 11 a.m. volume at 102,019 lots.

* Spot gold was at $1,044, against $1,040.85 quoted late in
New York on Tuesday.

* London afternoon gold fix XAUFIX= was at $1,040.25.

SILVER

* December silver SIZ9 up 28 cents, or 1.6 percent, at
$17.575 an ounce, up with gold.

* Ranged from $17.310 to $17.595, a two-week high.

* COMEX estimated 11 a.m. volume at 21,009 lots.

* Spot silver XAG= was at $17.53, versus its previous
finish of 17.32 an ounce.

* London silver fix XAGFIX= at $17.40 an ounce.

PLATINUM

* January platinum PLF0 up $12.70 at $1,338 an ounce on
broad-based precious metals rally.

* Spot platinum XPT= was at $1,325.50, compared with its
previous finish of $1,313.50.

PALLADIUM

* December palladium PAZ9 up $5.70, or 1.8 percent, at
$316 an ounce, up with platinum.

* Spot palladium XPD= was at $312.50, against its
previous close of $305.50.
Prices at 11:15 a.m. EDT (1515 GMT)

Last Change Pct 2008 YTD

Chg Close % Chg
US gold GCZ9 1043.60 3.90 0.4 884.30 18.0
US silver SIZ9 17.510 0.215 1.2 11.295 55.0
US platinum PLF0 1336.00 10.70 0.8 941.50 41.9
US palladium PAZ9 316.00 5.70 1.8 188.70 67.5
Gold XAU= 1042.60 1.75 0.2 878.20 18.7
Silver XAG= 17.46 0.14 0.8 11.30 54.5
Platinum XPT= 1326.50 13.00 1.0 924.50 43.5
Palladium XPD= 311.00 5.50 1.8 184.50 68.6
Gold Fix XAUFIX= 1040.25 -6.75 -0.6 836.50 24.4
Silver Fix XAGFIX= 17.40 45.00 2.7 14.76 17.9
Platinum Fix XPTFIX= 1323.00 13.00 1.0 1529.00 -13.5
Palladium Fix XPDFIX= 312.00 0.00 0.0 365.00 -14.5
(Reporting by Frank Tang; Editing by Lisa Shumaker)