US gold ends up on dollar drop, technical support

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Fri Nov 13, 2009 1:52pm EST

 NEW YORK, Nov 13 (Reuters) - New York gold futures ended
higher on a dollar drop Friday, and a strong finish above
$1,100 an ounce driven by currency hedge demand and central
bank interest should support the market next week, traders
said.
 For the latest detailed report, click on [GOL/].
 GOLD
 * COMEX December gold GCZ9 climbed $10.10 to settle at
$1,116.70 an ounce at on the NYMEX.
 * Range spanned from $1,101.20 to $1,117.40. December hit
an all-time high $1,123.40 on Thursday.
 * A lower dollar supports gold. The greenback dropped
broadly after data showed U.S. trade deficit widened.
 * Gold initially lacked a clear direction as dollar briefly
pared losses after disappointing U.S. consumer sentiment data.
 * A Friday close above key technical level $1,100 should
indicate buying interest - Adam Klopfenstein at Lind-Waldock.
 * Sentiment upbeat on potential interest by other central
banks after IMF sold 200 tonnes of gold to India last week.
 * Gold to trade sideways if dollar does not significantly
improve and crude holds ground - Frank McGhee at Integrated
Brokerage Services.
 * COMEX estimated 1 p.m. volume at 126,346 lots.
 * Spot gold XAU= at $1,116.30 an ounce, compared with
$1,103.60 late in the previous session in New York.
 * London's afternoon gold fix XAUFIX= at $1,104 an
ounce.
 SILVER
 * December silver SIZ9 firmed 11.5 cents to $17.38 an
ounce, tagging on gold's positive turnaround.
 * Ranged from $17.025 to $17.445.
 * COMEX estimated 1 p.m. volume at 34,587 lots.
 * Spot silver XAG= was at $17.35 against $17.21 in the
previous session in New York.
 * London silver fix XAGFIX= at $17.3225.
 PLATINUM
 * January platinum PLF0 jumped $25.50, or 1.9 percent, to
end at $1,388.70 an ounce on better investor sentiment.
 * Spot platinum XPT= $1,382 an ounce.
 PALLADIUM
 * December palladium PAZ9 up $5.85 at $356.75 an ounce,
extending the previous sessions' strong rally on strong
investment buying.
 * Spot palladium XPD= $354 an ounce.
 (Reporting by Frank Tang; Editing by Marguerita Choy)






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