US gold hits record above $1,240 on safe-haven play

NEW YORK, May 12 (Reuters) - U.S. gold futures rose to a
second straight record high at above $1,240 an ounce on
Wednesday, as Greece's debt contagion fears prompted safe-haven
play despite a U.S. stock market rally.

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

GOLD

* COMEX June GCM0 settles up $22.80, or 1.9 percent, at
$1,243.10 an ounce.

* Ranged from $1,227.20 to $1,249.20 - an all-time high.

* Despite abating sovereign risks, gold's rally largely
driven by worries about "exit strategy" for central banks after
ECB's rescue plan - Michael Jansen at JPMorgan.

* Gold extended rally even as S&P 500 index rises over 1
percent as underyling economic uncertainties support -
traders.

* Doubts about the long-term viability of the euro and
paper currencies trigger a flight into gold - traders.

* Investment demand was strong. The exchange-traded fund
SPDR Gold Trust (GLD), said holdings stood at a record high
1,192.150 tonnes. [GOL/SPDR]

* Comex estimated final volume at 192,092 lots.

* Spot gold XAU= at $1,240.35 at 3:36 p.m. EDT (1936
GMT), versus $1,232.05 late in New York's previous session.

* London afternoon gold fix XAUFIX= at $1,237.50.

SILVER

* COMEX July silver SIN0 ends up 36.9 cents, or 1.9
percent, at $19.663 an ounce, as short-term momentum traders
pile in on the coattails of gold.

* Ranged $19.110 to $19.735 -- highest since 2008.

* Comex estimated final volume at 38,813 lots.

* Spot silver XAG= at $19.52 versus $19.28 late in prior
session.

* London silver fix XAGFIX= at $19.59.

PLATINUM

* July PLN0 finishes up $46.50, or 2.7 percent, at
$1,747.30 an ounce as gold's rally boosts platinum's appeal as
a precious metal.

* Spot platinum XPT= at $1,741.50.

PALLADIUM

* June PAM0 closes up $15.25, or 2.9 percent, at $547.45
an ounce, taking the lead from platinum.

* Spot palladium XPD= at $540.50.

Close Change Pct 2009 YTD

Chg Close % Chg
US gold GCM0 1243.10 22.8 1.9 1096.20 13.4
US silver SIN0 19.663 0.369 1.9 16.845 16.7
US platinum PLN0 1747.30 46.50 2.7 1471.00 18.8
US palladium PAM0 547.45 15.25 2.9 408.85 33.9
Prices at 3:37 p.m. EDT (1937 GMT)
Gold XAU= 1239.75 7.70 0.6 1096.35 13.1
Silver XAG= 19.52 0.24 1.2 16.84 15.9
Platinum XPT= 1741.50 39.50 2.3 1465.50 18.8
Palladium XPD= 540.00 8.000 1.5 405.50 33.2
Gold Fix XAUFIX= 1237.50 -3.75 -0.3 1104 12.1
Silver Fix XAGFIX= 19.59 117.00 6.4 16.99 15.3
Platinum Fix XPTFIX= 1703.00 1.00 0.1 1466 16.2
Palladium FixXPDFIX= 537.00 3.00 0.6 402 33.6
(Reporting by Frank Tang; Editing by Lisa Shumaker)