August 6, 2010 / 7:33 PM / 7 years ago

US gold ends up on safe-haven bids after jobs data

 NEW YORK, Aug 6 (Reuters) - U.S. gold futures ended higher on Friday for an eighth straight session, after a disappointing nonfarm payrolls report fueled double-dip recession worries, increasing the metal's appeal as a safe haven.
 * For the latest detailed report, click on [GOL/].
 GOLD
 * COMEX December gold futures GCZ0 settled up $6 at $1,205.30 an ounce on the COMEX division of the NYMEX.
 * Range $1,194.50 to $1,213.30 an ounce.
 * Gold accelerated gains and Wall Street sank after government data showed U.S. private employers added fewer workers to their payrolls in July than expected. [ID:nN05598486
 * Recent weak economic data suggested interest rate will be low for a while, which is very good for the precious metals relative to other assets - Thomas Winmill, portfolio manager of Midas Fund (MIDSX.O).
 * The usual inverse relationship between gold and the dollar has shown signs of a resurgence, after the link loosened earlier this year as extreme risk aversion benefited both assets - analysts.
 * COMEX estimated final volume at a modest 97,670 lots.
 * Spot gold XAU= at $1,205.15 an ounce at 3:11 p.m. EDT (1911 GMT), versus the previous session's late quote at $1,193.10 an ounce.
 * London afternoon fix XAUFIX= at $1,207.75 an ounce.
 SILVER
 * COMEX September silver SIU0 ends up 15.10 cents at $18.472 an ounce, as the market rose in tandem with gold.
 * Range $18.290 to $18.585 an ounce.
 * COMEX estimated final volume at 28,713 lots.
 * Spot silver XAG= at $18.44 an ounce, compared with $18.31 late in the previous session.
 * London silver fix XAGFIX= at $18.30 per ounce.
 PLATINUM
 * NYMEX October platinum PLV0 finishes down $1.70 at $1,570.80 an ounce as weak jobs data hurt demand expectations for industrial metals.
 * Spot platinum XPT= at $1,567 an ounce.
 PALLADIUM
 * September palladium PAU0 closes down $8.45, or 1.7 percent, at $487.60 an ounce on platinum's coattails.
 * Spot palladium XPD= at $487.50 an ounce. Prices at 3:19 p.m. EDT (1931 GMT)    
                          LAST/      NET    PCT     YTD
                          CLOSE      CHG    CHG     CHG US gold         GCZ0     1205.30     6.00   0.5%   10.0% US silver       SIU0      18.472    0.151   0.0%    9.7% US platinum     PLV0     1570.80    -1.70  -0.1%    6.8% US palladium    PAU0      487.60    -8.45  -1.7%   19.3% Gold            XAU=     1205.25    12.15   1.0%    9.9% Silver          XAG=       18.43     0.12   0.7%    9.4% Platinum        XPT=     1566.50    -0.25   0.0%    6.9% Palladium       XPD=      487.50    -4.70  -1.0%   20.2% Gold Fix        XAUFIX=  1207.75    13.25   1.1%    9.4% Silver Fix      XAGFIX=    18.30    -5.00  -0.3%    7.7% Platinum Fix    XPTFIX=  1571.00     4.00   0.3%    7.2% Palladium Fix   XPDFIX=   491.00     3.00   0.6%   22.1%  (Reporting by Frank Tang; Editing by Marguerita Choy)                          

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below