US gold ends below $1,300/oz after an early breach

NEW YORK, Sept 27 (Reuters) - U.S. gold futures finished
Monday barely higher, after nearing its record high in early
trade, but volumes were light and some investors were beginning
to take profits after the psychologically potent $1,300 per
ounce target was breached, analysts said.

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

GOLD

* COMEX December gold futures GCZ0 ended 50 cents higher
at $1,298.60 an ounce on the COMEX division of the NYMEX.

* Range ran from $1,295.80 to $1,301.30.

* The contract high was a touch below the record at
$1,301.60 set on Friday.

* COMEX estimated final gold volume at 76,294 lots, down
about 28 percent from the 30-day average.

* Volumes were light in other precious metal and financial
markets as well - traders.

* Gold pushed above the $1,300 an ounce level in early
trade, when the euro hit a five-month high against the U.S.
dollar - traders.

* Once, the euro slipped off those highs, gold edged down
too. But analysts noted the euro's decline was minimal, as was
the easing in the gold price - analysts.

* The euro fell from a five-month high against the U.S.
dollar as worries about fiscal debt problems in euro zone
countries like Ireland weighed on the single currency. [USD/]

* Worries about global economic growth provided the impetus
to move gold above the $1,300 threshold for a second day in a
row, but technical sellers saw an opportunity to sell when it
could not sustain those levels - traders.

* Rick Bensignor, chief market strategist at Execution
Noble Llc in New York said he has been recommending for the
last few sessions, "for people who are trader oriented, if they
are long to take some money off the table."

* "If you are buying gold because you think it's going to
$2,000, that's different. But, you are an active trader, $1,300
to $1,320 is the place I'd recommend taking some money off the
table," - Bensignor.

* Several other analysts also saw short-term corrective
selling on the horizon with downside targets ranging from
$1,246 to $1,268 per ounce. [ID:nSGE68Q022]

* Gold bullion edged up to a record $1,300 per ounce in
European trade, a hair higher than the previous top at
$1,299.95 set on Friday.

* By 3:30 p.m. EDT (1930 GMT), spot gold XAU= changed
hands at $1,297.15 an ounce, up slightly from the prior closing
bid at $1,295.60 an ounce.

* London afternoon gold was fixed XAUFIX= at $1,297 an
ounce.

SILVER

* COMEX December silver SIZ0 ended up 7.2 cents at
$21.4710 an ounce, as investors sought a cheaper alternative in
gold's run up.

* Higher range spanned $21.3650 to $21.6450 an ounce, the
contract's highest since March 2008.

* COMEX estimated final volume at 24,337 lots, off about 40
percent from the 30-day average.

* Spot silver XAG= climbed to $21.47 in late New York
dealings, against $21.41 previously.

* London silver was fixed XAGFIX= higher at $21.54 an
ounce.

* Silver, trading at 30-year highs, looks set to continue
benefiting from strength in gold prices, but is at risk of a
correction if a sluggish economic recovery hurts industrial
commodities, metals consultancy GFMS told Reuters in an
interview. [ID:nLDE68Q1M9]

PLATINUM

* NYMEX October platinum PLV0 settled $9.70 lower at
$1,630.10 an ounce, as investors continued to grab profits
after its recent advance - traders.

* Spot platinum XPT= slipped to $1,630.50 an ounce, off
Friday's close at $1,637.70 a tonne.

PALLADIUM

* NYMEX December palladium PAZ0 ended with $8.30 losses
at $552.20 an ounce, moving down with platinum.

* Spot palladium XPD= fell to $549.50 an ounce from
$556.70 an ounce late on Friday.
Prices at 3:29 p.m. EDT (1929 GMT)

LAST/ NET PCT YTD

CLOSE CHG CHG CHG
US gold GCZ0 1298.60 0.50 0.0% 18.5%
US silver SIZ0 21.455 0.072 0.0% 27.4%
US platinum PLV0 1630.10 -9.70 -0.6% 10.8%
US palladium PAZ0 550.70 -7.80 -1.4% 34.7%
Gold XAU= 1297.10 1.50 0.1% 18.3%
Silver XAG= 21.45 0.04 0.3% 27.6%
Platinum XPT= 1630.50 -7.20 -0.4% 11.3%
Palladium XPD= 549.50 -7.20 -1.3% 35.5%
Gold Fix XAUFIX= 1297.00 -1.25 -0.1% 17.5%
Silver Fix XAGFIX= 21.54 19.00 0.9% 26.8%
Platinum Fix XPTFIX= 1634.00 6.00 0.4% 11.5%
Palladium Fix XPDFIX= 558.00 1.00 0.2% 38.8%
(Reporting by Carole Vaporean; Editing by Marguerita Choy )