US gold futures rise to record high for second day

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

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

GOLD

* Most-active December gold futures GCZ9 up $4.70 at
$1,044.40 an ounce on the COMEX division of the New York
Mercantile Exchange.

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

* The U.S. dollar rose on Wednesday, rebounding from a low
against the yen dating back more than eight months 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
expected to eventually weaken the greenback.

* Gold is on its own right now. The metal will benefit from
a falling dollar and inflation as the Federal Reserve cannot
afford to raise interest rates and jeopardize economic recovery
- Jonathan Jossen, COMEX gold floor trader.

* 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 $1,041.75 an ounce by 1:17 p.m. EDT
(1717 GMT), 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 closed up 20.5 cents, or 1.2
percent, at $17.50 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 $17.46, versus its previous
finish of 17.32 an ounce.

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

PLATINUM

* January platinum PLF0 firmed $2.40 to settle at
$1,327.70 an ounce on broad-based precious metals rally.

* Spot platinum XPT= was at $1,316.50, compared with its
previous finish of $1,313.50.

PALLADIUM

* December palladium PAZ9 up $3.70, or 1.2 percent, at
$314.05 an ounce, up with platinum.

* Spot palladium XPD= was at $309.50, against its
previous close of $305.50.
Prices at 1:17 p.m. EDT (1717 GMT)

Last Change Pct 2008 YTD

Chg Close % Chg
US gold GCZ9 1043.20 3.50 0.3 884.30 18.0
US silver SIZ9 17.475 0.180 1.0 11.295 54.7
US platinum PLF0 1325.90 2.40 0.2 941.50 40.8
US palladium PAZ9 313.45 3.15 1.0 188.70 66.1
Gold XAU= 1041.70 0.85 0.1 878.20 18.6
Silver XAG= 17.43 0.11 0.6 11.30 54.2
Platinum XPT= 1319.00 5.50 0.4 924.50 42.7
Palladium XPD= 309.00 3.50 1.1 184.50 67.5
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 Jim Marshall)