US gold ends nearly 1 pct up after payrolls report

Fri Oct 8, 2010 3:40pm EDT

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 NEW YORK, Oct 8 (Reuters) - U.S. gold futures ended nearly
1 percent higher on Friday following a sharp retreat in the
previous session, as a disappointing nonfarm payrolls report
reinforced expected U.S. monetary easing.
 * For the latest detailed report, click on [GOL/].
 GOLD
 * COMEX December gold futures GCZ0 settled up $10.30 at
$1,345.30 an ounce on the COMEX division of the NYMEX.
 * Range ran from $1,325.60 to $1,350.80.
 * A U.S. Labor Department report showed the U.S. economy
shed jobs in September for a fourth straight month as
government payrolls fell and private hiring slowed.
[ID:nN08205203]
 * Weak jobs data should push the Fed toward trying to
stimulate the economy through purchases of government debt, or
quantitative easing - Miguel Perez-Santalla at Heraeus Precious
Metals Management.
 * Gold has rallied about 10 percent since the end of
August. It hit a record high on Thursday of $1,364.60 an ounce
on a spot basis before finishing lower for the day. The
precious metal is viewed as a hedge against inflation and
dollar depreciation. (Graphic: r.reuters.com/kaf27p)
 * COMEX gold market's open interest climbed 4,737 contracts
to a record high 621,941 lots as of Wednesday, according to
exchange data.
 * Estimated gold volume at 194,441 lots, 57 percent above
its 30-day average, preliminary Reuters data showed.
 * By 3:23 p.m. EDT (1923 GMT), spot gold XAU= rose 1
percent to $1,345.80.
 * London afternoon gold fixed XAUFIX= at $1,341.50 an
ounce.
 SILVER
 * COMEX December silver SIZ0 ended up 52.10 cents, or 2.3
percent, at $23.105 an ounce, as the white metal continued to
outperform gold on heavy short-term buying - traders.
 * Ranged from $22.350 to $23.325 an ounce.
 * COMEX estimated volume at 67,820 lots, above 64 percent
higher than its 30-day average - preliminary Reuters data.
 * Spot silver XAG= climbed 2.8 percent at $23.16 an
ounce.
 * London silver was fixed XAGFIX= at $22.37 an ounce.
 PLATINUM
 * NYMEX January platinum PLF1 finishes up $3.70 at
$1,708.70 an ounce on broad-based rallies of metals and
commodities - traders.
 * The Reuters-Jefferies CRB index, a global commodities
benchmark, hit two-year highs as U.S grains and oil markets led
a broad commodities rally, while the dollar slipped to new lows
against a basket of major currencies. [FRX/]
 * Spot platinum XPT= inched up 0.6 percent to $1,701 an
ounce.
 PALLADIUM
 * NYMEX December palladium PAZ0 closed up 50 cents at
$587.60 an ounce as the market took a breather after recent
sharp rallies.
 * Spot palladium XPD= gained 1.1 percent at $585.50 an
ounce.
Prices at 3:25 p.m. EDT (1925 GMT)    
                          LAST/      NET    PCT     YTD
                          CLOSE      CHG    CHG     CHG
US gold         GCZ0     1345.30    10.30   0.8%   22.7%
US silver       SIZ0      23.105    0.521   0.0%   37.2%
US platinum     PLF1     1708.70     3.70   0.2%   16.2%
US palladium    PAZ0      587.60     0.50   0.1%   43.7%
Gold            XAU=     1346.00    13.45   1.0%   22.8%
Silver          XAG=       23.17     0.65   2.9%   37.6%
Platinum        XPT=     1701.00     9.40   0.6%   16.1%
Palladium       XPD=      585.50     6.35   1.1%   44.4%
Gold Fix        XAUFIX=  1341.50    11.00   0.8%   21.5%
Silver Fix      XAGFIX=    22.37  -101.00  -4.3%   31.7%
Platinum Fix    XPTFIX=  1683.00     5.00   0.3%   14.8%
Palladium Fix   XPDFIX=   572.00     3.00   0.5%   42.3%
 (Reporting by Frank Tang)
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