NEW YORK, Oct 29 (Reuters) - New York gold futures rose toward $1,050
an ounce on Thursday, ending 1.6 percent higher as the dollar dropped
against the euro and as Wall Street rallied after data showed that the U.S.
economy grew for the first time in more than a year.
For the latest detailed report, click on [GOL/].
GOLD
* December gold GCZ9 settled up $16.60, or 1.6 percent, at $1,047.10
an ounce on the COMEX division of NYMEX.
* Ranged from $1,048.40 to $1,026.90 -- a three-week low. December
scaled a record high $1,072 on Oct. 14.
* Gold extends early gains after news that U.S. economy grew at 3.5
percent annual rate in Q3. [ID:nN29354547]
* Dollar weakened vs the euro as strong economic data reduces the
safe-have allure of greenback.
* Gold strengthens in negative interest rate environment and as
currencies depreciate - Frank Holmes, U.S. Global's CEO.
* Gold has recently risen in tandem with equities. Bullion's unusual
link to the stock market driven by economic uncertainties.
* Gold held relatively stable despite recent sharp decline of oil and
other commodities. Support currently seen at $1,025 - Gartman Letter.
* UBS Investment Bank on Thursday started a new commodity index
exchange traded note (ETN) on the NYSE Arca. [ID:nN29441267]
* Russia plans to sell 25 tonnes of gold from the state precious metals
and gems repository Gokhran, possibly on the local market. [ID:nLT717764]
* Crude oil rebounds 4 percent to above $80 a barrel, supporting gold.
* Gold-to-oil ratio at 13.06, down from 13.30 from the previous
session.
* COMEX estimated 1 p.m. volume at 116,703 lots.
* Spot gold XAU= at $1,046.80 an ounce at 1:34 p.m. EDT (1734 GMT),
against $1,026.85 late in New York in the previous session.
* London's morning gold fix XAUFIX= at $1,034.
SILVER
* December silver SIZ9 ends up 41.5 cents, or 2.6 percent, at $16.655
an ounce, up with gold.
* Ranged from $16.12 to $16.71.
* COMEX estimated 1 p.m. volume at 38,595 lots.
* Spot silver XAG= was at $16.62 versus the $16.09 ounce level seen
late in the previous session in New York.
* London silver fix XAGFIX= at $16.33.
PLATINUM
* January platinum PLF0 finishes up $31.30, or 2.4 percent, at
$1,338.20 an ounce on economic optimism.
* Spot platinum XPT= was at $1,332, compared with late previous
session quote of $1,303.50 in New York.
PALLADIUM
* December palladium PAZ9 closes up $10.90, or 3.4 percent, at
$328.30 an ounce, tracking platinum.
* Spot palladium XPD= was at $324.50, compared with the previous
session's close at $313.50.
Close Change Pct 2008 YTD
Chg Close % Chg
US gold GCZ9 1047.10 16.6 1.6 884.3 18.4
US silver SIZ9 16.655 0.415 2.6 11.295 47.5
US platinum PLF0 1338.20 31.30 2.4 941.50 42.1
US palladium PAZ9 328.30 10.90 3.4 188.70 74.0
Prices at 1:54 p.m. EDT (1754 GMT)
Gold XAU= 1046.40 19.55 1.9 878.20 19.2
Silver XAG= 16.62 0.53 3.3 11.30 47.1
Platinum XPT= 1332.50 29.00 2.2 924.50 44.1
Palladium XPD= 324.50 11.000 3.5 184.50 75.9
Gold Fix XAUFIX= 1040.50 6.50 0.6 836.50 24.4
Silver Fix XAGFIX= 16.33 0.00 0.0 14.76 10.6
Platinum Fix XPTFIX= 1328.00 10.00 0.8 1529 -13.1
Palladium FixXPDFIX= 324.00 5.00 1.6 365.0 -11.2
(Reporting by Frank Tang; Editing by John Picinich)
