U.S. gold ends near 3-week lows on dollar rally

Related Topics

Tue Oct 27, 2009 3:23pm EDT

 NEW YORK, Oct 27 (Reuters) - New York gold futures fell to
a three-week low Tuesday, ending lower for a second straight
session, as a resurgent dollar amid disappointing consumer
confidence data weakened bullion's status as a hedge against a
depreciating U.S. currency.
 For the latest detailed report, click on [GOL/].
 GOLD
 * December GCZ9 settled down $7.40 at $1,035.40 an ounce
on the COMEX division of the New York Mercantile Exchange .
 * Range from $1,044.30 to $1,032.90 -- the weakest price
since Oct. 6. December scaled a record high $1,072 on Oct. 14.
 * Dollar jumps against the euro after U.S. consumer
confidence data fell to lower-than-expected levels in October.
 * Technical weakness suggests a further pullback in gold,
which could correct lower to $1,030.05 - CitiFX.
 * Gold in "shallow correction," could test $1,000 in coming
weeks, if support from equities market absent - Lind-Waldock.
 * Traders dispel idea that COMEX November gold and silver
option expirations Tuesday will add price volatility.
 * Gold-to-oil ratio at just above 13 at 13.02, down from
previous session's 13.26.
 * COMEX estimated 1 p.m. volume at 138,132 lots.
 * Spot gold XAU= at $1,038.70 an ounce at 2:55 p.m. EDT
(1855 GMT), against $1,037.10 late in New York in the previous
session.
 * London gold fix XAUFIX= $1,036.50.
 SILVER
 * December SIZ9 finishes down 55.5 cents, or 3.3 percent,
at 16.540 an ounce, down with gold.
 * Ranged $17.250 to $16.500.
 * COMEX estimated 1 p.m. volume at 49,554 lots.
 * Spot silver XAG= was at $16.61 versus its previous
finish of $17.05 an ounce.
 * London silver fix XAGFIX= at $17.06.
 PLATINUM
 * January platinum PLF0 ends down $26.80, or 2 percent,
at $1,319 an ounce, tracking weak industrial metals.
 * Spot platinum XPT= was at $1,316.50, compared with its
previous finish of $1,330.50.
 PALLADIUM
 * December palladium PAZ9 closes down $2.70 at $330.55 an
ounce in sympathy with platinum.
 * Spot palladium XPD= was at $325.50 compared with its
previous session close at $329.50.
                     Close  Change   Pct     2008    YTD
                                     Chg   Close   % Chg
US gold      GCZ9    1035.40    -7.4  -0.7   884.3    17.1
US silver    SIZ9     16.540  -0.555  -3.2  11.295    46.4
US platinum  PLF0    1319.00  -26.80  -2.0  941.50    40.1
US palladium PAZ9     330.55   -2.70  -0.8  188.70    75.2
Prices at 2:50 p.m. EDT (1850 GMT)
Gold         XAU=    1038.30    1.20   0.1  878.20    18.2
Silver       XAG=      16.60   -0.45  -2.6   11.30    46.9
Platinum     XPT=    1315.50  -15.00  -1.1  924.50    42.3
Palladium    XPD=     325.50  -4.000  -1.2  184.50    76.4
Gold Fix     XAUFIX= 1036.50   -4.25  -0.4  836.50    23.9
Silver Fix   XAGFIX=   17.06  -55.00  -3.1   14.76    15.6
Platinum Fix XPTFIX= 1323.00    5.00   0.4    1529   -13.5
Palladium FixXPDFIX=  328.00    2.00   0.6   365.0   -10.1
 (Reporting by Frank Tang; Editing by Walter Bagley)






Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.