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US gold retreats from record high as dollar rises

Thu Nov 12, 2009 3:10pm EST
 NEW YORK, Nov 12 (Reuters) - New York gold futures ended
lower on Thursday, retreating from record highs set early in
the session, after the dollar rose broadly on doubts that the
nascent global economic recovery will last.
 For the latest detailed report, click on [GOL/].
 GOLD
 * COMEX December gold GCZ9 settles down $8 at $1,106.60
an ounce on the NYMEX.
 * Range spanned $1,103.70 to $1,123.40 -- an all-time
high.
 * Gold, oil and other commodities drop as the dollar
rebounds on renewed concerns about economic recovery.
 * Profit-taking seen in gold market following an impressive
rally based on recent dollar weakness - Peter Buchanan at
CIBC.
 * Downbeat economic views by U.S. policymakers signal
quantitative easing will not end soon, underpinning gold.
 * Gold demand likely to benefit if risk trade increases
amid economic optimism - James Steel at HSBC.
 * Gold-to-oil ratio down at 14.42 against 14.09, a late
quote from the previous session.
 * COMEX estimated final volume at a busy 171,452 lots.
 * Spot gold XAU= at $1,107.20 an ounce at 2:51 p.m. EDT
(1951 GMT), compared with $1,117.45 late in the previous
session in New York.
 * London's afternoon gold fix XAUFIX= at $1,114.75 an
ounce.
 SILVER
 * December silver SIZ9 ends down 27.20 cents, or 1.6
percent, at $17.265 an ounce, down with gold.
 * Ranged from $17.350 to $17.780.
 * COMEX estimated final volume at 39,651 lots.
 * Spot silver XAG= was at $17.31 against $17.57 in the
previous session in New York.
 * London silver fix XAGFIX= at $17.510.
 PLATINUM
 * January platinum PLF0 finishes down $6.40 at $1,363.20
an ounce on profit taking, tracking gold's weakness.
 * Spot platinum XPT= $1,353 an ounce.
 PALLADIUM
 * December palladium PAZ9 closes up $5.50, or 1.6
percent, at $350.90 an ounce, rising sharply for a second day
on investment demand.
 * Spot palladium XPD= $349.50 an ounce.
                     Close  Change   Pct     2008    YTD
                                     Chg   Close   % Chg
US gold      GCZ9    1106.60      -8  -0.7   884.3    25.1
US silver    SIZ9     17.265  -0.272  -1.6  11.295    52.9
US platinum  PLF0    1363.20   -6.40  -0.5  941.50    44.8
US palladium PAZ9     350.90    5.50   1.6  188.70    86.0
Prices at 2:37 p.m. EST (1937 GMT)
Gold         XAU=    1108.30   -9.15  -0.8  878.20    26.2
Silver       XAG=      17.33   -0.24  -1.4   11.30    53.4
Platinum     XPT=    1354.00  -14.00  -1.0  924.50    46.5
Palladium    XPD=     348.50   7.000   2.0  184.50    88.9
Gold Fix     XAUFIX= 1114.75   -1.25  -0.1  836.50    33.3
Silver Fix   XAGFIX=   17.51  -12.00  -0.7   14.76    18.6
Platinum Fix XPTFIX= 1365.00    2.00   0.1    1529   -10.7
Palladium FixXPDFIX=  354.50    3.50   1.0   365.0    -2.9
 (Reporting by Frank Tang; editing by Jim Marshall)






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