U.S. gold hits record above $1,300 an ounce

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Fri Sep 24, 2010 4:47pm EDT

 NEW YORK, Sept 24 (Reuters) - U.S. gold futures ended
higher on Friday, hitting a record above $1,300 an ounce on   
worries over economic uncertainty after the Federal Reserve
raised expectations of new measures to stimulate growth.
 * For the latest detailed report, click on [GOL/].
 GOLD
 * COMEX December gold futures GCZ0 settled up $1.80 at
$1,298.10 an ounce on the COMEX division of the NYMEX.
 * Trading ranged from $1,290.60 to $1,301.60 -- a record
high.
 * Gold benefited from renewed worries about inflation after
Friday's better-than-expected durable goods data and rallying
grain prices -- Adam Klopfenstein at MF Global's Lind-Waldock.
 * Gold's attraction as a hedge against inflation increased
after data showed new orders for a wide range of long-lasting
U.S. manufactured goods rose in August and business spending
plans rebounded strongly. [ID:nN24184114]
 * Gold has risen more than 4 percent this month and hit
record highs in six of the last seven sessions.
 * COMEX estimated final gold volume at 105,351 lots, in
line with its 30-day average, preliminary Reuters data showed.
 * Spot gold XAU= fetched $1,295.60 an ounce by 4:11 p.m.
EDT (2011 GMT), up from the previous session's last trade at
$1,293.50 an ounce.
 * London afternoon gold fix XAUFIX= at $1,290.75 an
ounce.
 SILVER
 * COMEX December silver SIZ0 ended up 18.6 cents at
$21.399 an ounce, as gold's rallies to record highs triggered
strong investment demand for the white metal.
 * Trade ranged from $21.120 to $21.490 an ounce -- the
highest level since 1980.
 * COMEX estimated final volume at 33,288 lots.
 * Spot silver XAG= fetched $21.45 in late New York deals,
against $21.14 in the previous session.
 * London silver was fixed XAGFIX= at $21.08 an ounce.
 PLATINUM
 * NYMEX October platinum PLV0 finished down $6.10 at
$1,639.80 an ounce as investors took profits after recent gains
- traders.
 * Spot platinum XPT= at $1,640 an ounce.
 PALLADIUM
 * NYMEX December palladium PAZ0 closed up $3.65 at
$560.50 an ounce, tracking gains in industrial metals.
 * Spot palladium XPD= at $556 an ounce.
Prices at 3:53 p.m. EDT (1953 GMT)    
                          LAST/      NET    PCT     YTD
                          CLOSE      CHG    CHG     CHG
US gold         GCZ0     1298.10     1.80   0.1%   18.4%
US silver       SIZ0      21.383    0.189   0.0%   26.9%
US platinum     PLV0     1639.80    -6.10  -0.4%   11.5%
US palladium    PAZ0      558.50     3.65   0.7%   36.6%
Gold            XAU=     1296.15     2.65   0.2%   18.2%
Silver          XAG=       21.42     0.28   1.3%   27.2%
Platinum        XPT=     1644.50     6.40   0.4%   12.2%
Palladium       XPD=      559.50     8.55   1.6%   38.0%
Gold Fix        XAUFIX=  1297.00    -1.00  -0.1%   17.5%
Silver Fix      XAGFIX=    21.35    27.00   1.3%   25.7%
Platinum Fix    XPTFIX=  1645.00     1.00   0.1%   12.2%
Palladium Fix   XPDFIX=   562.00     4.00   0.7%   39.8%
 (Reporting by Frank Tang; Editing by Dale Hudson)

























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