Sponsored Links

US gold hits 3-1/2 week low, ends under $1,100/oz

Mon Mar 22, 2010 3:59pm EDT

 NEW YORK, March 22 (Reuters) - U.S. gold futures fell to
their weakest in more than three weeks on Monday, ending below
$1,100 an ounce, as worries about monetary tightening prompted
selling.
 * For the latest detailed report, click on [GOL/].
 GOLD
 * COMEX April GCJ0 settled down $8.10 at $1,099.50 an
ounce.
 * Range $1,108.60 to $1,092.10 - lowest since Feb. 25.
 * Gold pressured by follow-through selling as a surprise
rate hike in major bullion consumer India could herald global
monetary tightening - traders.
 * Uncertain economic outlook, Greek debt worries trigger
follow-through selling - George Gero at RBC.
 * April contract's 1.8 percent decline on Friday was the
biggest one-day percentage loss since Feb. 4, when it had lost
4.4 percent.
 * Sentiment cautious ahead of CFTC public hearing on metals
futures on Thursday.
 * For a list of speakers at CFTC hearing, click
[ID:nN22165847]
 * COMEX final volume 174,046 lots.
 * Spot gold XAU= at $1,100.15 an ounce at 3:49 p.m. EDT
(1949 GMT), versus $1,106.55 late in New York in the previous
session.
 * London gold afternoon fix XAUFIX= at $1,097.25.
 SILVER
 * May SIK0 ended down 9.70 cents at $16.935 an ounce on
profit-taking, tracking gold.
 * Range from $17.01 to $16.62 - weakest since March 2.
 * COMEX final volume 31,563 lots.
 * Spot silver XAG= at $16.91, against $16.93 an ounce in
the previous session late quote in New York.
 * London silver XAGFIX= fixed at $16.78 an ounce.
 PLATINUM
 * April PLJ0 finished down $7.30 at $1,601.30 an ounce as
investors take profits.
 * Spot platinum XPT= at $1,597 an ounce.
 PALLADIUM
 * June palladium PAM0 closed down $7.90, or 1.7 percent,
at $460.60 an ounce, tracking platinum.
 * Spot palladium XPD= at $456 an ounce.
                     Close  Change   Pct    2009     YTD
                                     Chg   Close   % Chg
US gold      GCJ0    1099.50    -8.1  -0.7 1096.20     0.3
US silver    SIK0     16.935  -0.097  -0.6  16.845     0.5
US platinum  PLJ0    1601.30   -7.30  -0.5 1471.00     8.9
US palladium PAM0     460.60   -7.90  -1.7  408.85    12.7
Prices at 3:37 p.m. EDT (1937 GMT)
Gold         XAU=    1100.25   -6.30  -0.6 1096.35     0.4
Silver       XAG=      16.91   -0.02  -0.1   16.84     0.4
Platinum     XPT=    1594.00  -10.50  -0.7 1465.50     8.8
Palladium    XPD=     456.50 -10.500  -2.2  405.50    12.6
Gold Fix     XAUFIX= 1097.25   -7.00  -0.6    1104    -0.6
Silver Fix   XAGFIX=   16.78  -53.00  -3.1   16.99    -1.2
Platinum Fix XPTFIX= 1582.00    1.00   0.1    1466     7.9
Palladium FixXPDFIX=  454.00    4.00   0.9     402    12.9
 (Reporting by Frank Tang, Editing by Lisa Shumaker)

























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