U.S. gold takes breather to end lower after record

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Wed Oct 14, 2009 3:38pm EDT

 NEW YORK, Oct 14 (Reuters) - U.S. gold futures ended a tad
lower on Wednesday, well off a record high set early in the
session based on dollar weakness, as the market took a breather
after a sharp rally that lifted prices to uncharted territory.
 For the latest detailed report, click on [GOL/].
 GOLD
 * December gold futures GCZ9 settle down 30 cents at
$1,064.70 an ounce in choppy trade on the COMEX division of the
New York Mercantile Exchange.
 * Range from $1,056.50 to $1,072, beating the Oct. 13 record
of $1,069.70.
 * Initial rise above $1,070 capped by profit taking.
 * New buying difficult at such high levels after an exhausting
rally - COMEX gold trader.
 * MF Global says bullion gains need follow through or risks
bearish reversal.
 * Gold rise driven by currency worries rather than inflation.
 * Funds diverted to equities as Dow over 10,000 points.
 * Pullback possible as open interest held above 500,000 lots.
<NYMMTLFUT/VOI>
 * Gold-to-oil ratio at 14.12, down from previous session's
14.34.
 * COMEX estimated final volume at 120,890 lots.
 * Spot gold $1,062.90 an ounce at 2:14 p.m. EDT (1814 GMT),
against $1,063.35 late Tuesday in New York.
 * London afternoon gold fix XAUFIX= $1,059.50.
 SILVER
 * December silver SIZ9 ends up 6.8 cents at $17.908.
 * Market looks for firm direction after recent gains.
 * Range $17.720 to $18.175, highest since August 2008.
 * COMEX estimated final volume at 26,612 lots.
 * Spot silver XAG= was at $17.86, versus its previous finish
of $17.75 an ounce.
 * London silver fix XAGFIX= at $17.93 an ounce.
 PLATINUM
 * January platinum PLF0 finishes up $5.90 at $1,366.60 an
ounce on industrial metals gains.
 * Spot platinum XPT= was at $1,357.50, compared with its
previous finish of $1,338.50.
 PALLADIUM
 * December palladium PAZ9 closes up $1 at $330.80 an ounce,
up with platinum.
 * Spot palladium XPD= was at $326, compared with its
previous session close at $325.50.
                     Close  Change   Pct     2008    YTD
                                     Chg   Close   % Chg
US gold      GCZ9    1064.70    -0.3   0.0   884.3    20.4
US silver    SIZ9     17.908   0.068   0.4  11.295    58.5
US platinum  PLF0    1366.60    5.90   0.4  941.50    45.2
US palladium PAZ9     330.80    1.00   0.3  188.70    75.3
Prices at 2:14 p.m. EDT (1814 GMT)
Gold         XAU=    1062.90   -0.45   0.0  878.20    21.0
Silver       XAG=      17.86    0.11   0.6   11.30    58.1
Platinum     XPT=    1354.00   -4.50  -0.3  924.50    46.5
Palladium    XPD=     326.50   1.000   0.3  184.50    77.0
Gold Fix     XAUFIX= 1059.50   -6.50  -0.6  836.50    26.7
Silver Fix   XAGFIX=   17.93   -6.00  -0.3   14.76    21.5
Platinum Fix XPTFIX= 1356.00    2.00   0.1    1529   -11.3
Palladium FixXPDFIX=  326.00    3.00   0.9   365.0   -10.7
 (Reporting by Frank Tang; Editing by Walter Bagley)






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