US gold hits record high $1,088.50/oz on IMF sale

NEW YORK, Nov 3 (Reuters) - U.S. gold futures scaled an
all-time high $1,088.50 an ounce on Tuesday in a technical
breakout, surpassing the previous record set Oct. 14, as news
of a gold sale by the International Monetary Fund to India
boosted sentiment.

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

GOLD

* December gold GCZ9 settles up $30.90, or 2.9 percent,
at $1,084.90 an ounce on the COMEX division of the New York
Mercantile Exchange.

* Range from $1,055.50 to $1,088.50.

* Gold futures buying increased after the IMF sold 200
tonnes of gold to the Reserve Bank of India. [ID:nN02468120]

* Potential for IMF gold to be sold on open market is gone
- Vision Financial's David Meger

* News led to expectations that IMF's remaining 203.3
tonnes for sale will be concluded with minimal impact to open
market. [ID:nDEL484779]

* Gold boosted on the notion that India could buy more from
the IMF, and news that gold producers could accelerate hedge
buybacks should support - Heraeus.

* Gold's sudden rally supported by heavy buy stops at
$1,069 to $1,070 -- a technical triple top - trader.

* Barrick Gold and AngloGold Ashanti said they could
accelerate hedgebook cuts. [ID:nL2318309]

* COMEX estimated final volume at a busy 190,865 lots.

* Gold-to-oil ratio at 13.67, up from 13.57 in the previous
session.

* Spot gold XAU= was at $1,084.60 per ounce at 3:41 p.m.
EST (2041 GMT), up 2.4 percent from $1,059.15 quoted late in
the previous session in New York.

* London's afternoon gold fix XAUFIX= at $1,061.

SILVER

* December silver SIZ9 ends up 74.0 cents, or 4.5
percent, at $17.180 an ounce, rising with gold.

* Range from $16.245 to $17.35.

* COMEX estimated final volume at 59,091 lots.

* Spot silver XAG= was at $17.21, versus $16.43 in the
previous session in New York.

* London silver fix XAGFIX= at $16.35.

PLATINUM

* January platinum PLF0 finishes up $18.10, or 1.4
percent, at $1,356.20 an ounce, taking the lead from gold.

* Spot platinum XPT= was at $1,355.50, compared with late
previous session quote of $1,334 in New York.

PALLADIUM

* December palladium PAZ9 closes up $1.40 at $327.75 an
ounce on platinum's gains.

* Spot palladium XPD= was at $324.50, compared with the
previous session's close at $321.50.

Close Change Pct 2008 YTD

Chg Close % Chg
US gold GCZ9 1084.90 30.9 2.9 884.3 22.7
US silver SIZ9 17.180 0.740 4.5 11.295 52.1
US platinum PLF0 1356.20 18.10 1.4 941.50 44.0
US palladium PAZ9 327.75 1.40 0.4 188.70 73.7
Prices at 3:39 p.m. EST (2039 GMT)
Gold XAU= 1084.65 25.50 2.4 878.20 23.5
Silver XAG= 17.22 0.79 4.8 11.30 52.4
Platinum XPT= 1356.00 22.00 1.6 924.50 46.7
Palladium XPD= 324.50 3.000 0.9 184.50 75.9
Gold Fix XAUFIX= 1061.00 3.00 0.3 836.50 26.8
Silver Fix XAGFIX= 16.35 -23.00 -1.4 14.76 10.8
Platinum Fix XPTFIX= 1325.00 9.00 0.7 1529 -13.3
Palladium FixXPDFIX= 318.00 3.00 0.9 365.0 -12.9
(Reporting by Frank Tang; Editing by Walter Bagley)