September 15, 2010 / 8:15 PM / 9 years ago

U.S. gold ends lower but holds near record high

 NEW YORK, Sept 15 (Reuters) - U.S. gold futures ended lower
on Wednesday but hovered near the previous session's all-time
high, as volatilities in other markets prompted jittery
investors to buy gold as an alternative asset.
 * For the latest detailed report, click on [GOL/].
 GOLD
 * COMEX December gold futures GCZ0 settled down $3 at
$1,268.70 an ounce on the COMEX division of the NYMEX.
 * Ranged from $1,264.50 to $1,273.50 per ounce.
 * Notion that gold is a reserve asset is a fundamental
reason for the metal's rally to all-time high - Dennis Gartman,
publisher of the Gartman Letter.
 * Buying sentiment in the metal was weighed down by
comments from billionaire financier George Soros, who told
Reuters Insider that gold is "the ultimate bubble" and "it's
certainly not safe and it's not going to last forever."
[ID:nN15153856]
 * The spot bullion market was supported at just below
$1,270 an ounce, near its all-time high at $1,274.75 set on
Tuesday, as the dollar surged 3 percent against the yen as
Japan intervened to weaken its currency for the first time in
six years.
 * COMEX final gold volume at a modest 101,686 lots.
  * Spot gold XAU= was at $1,267.25 an ounce by 3:51 p.m.
EDT (1951 GMT), versus the previous session's last trade at
$1,270.27 an ounce.
 * London afternoon gold fix XAUFIX= at $1,267 an ounce.
 SILVER
 * COMEX December silver SIZ0 finished up 13.9 cents at
$20.571 an ounce on strong fund buying.
 * Ranged from $20.34 to $20.65 an ounce - highest since
March 2008.
 * COMEX estimated final volume at 30,621 lots.
 * Spot silver XAG= was at $20.55 in late New York
dealings, against $20.40 in the previous session.
 * London silver was fixed XAGFIX= at $20.44 an ounce.
 PLATINUM
 * NYMEX October platinum PLV0 ended up $10.90 at
$1,605.30 an ounce on Asian demand - traders.
 * Platinum group metals rose with silver as well as other
industrial metals - traders.
 * Spot platinum XPT= at $1,608 an ounce.
 PALLADIUM
 * NYMEX December palladium PAZ0 closed up $5.80, or 1.1
percent, at $559.60 an ounce.
 * Spot palladium XPD= at $553.50 an ounce.
Prices at 3:53 p.m. EDT (1953 GMT)    
                          LAST/      NET    PCT     YTD
                          CLOSE      CHG    CHG     CHG
US gold         GCZ0     1268.70    -3.00  -0.2%   15.7%
US silver       SIZ0      20.542    0.141   0.0%   21.9%
US platinum     PLV0     1605.30    10.90   0.7%    9.1%
US palladium    PAZ0      557.15     5.40   1.0%   36.3%
Gold            XAU=     1266.85    -3.42  -0.3%   15.6%
Silver          XAG=       20.56     0.16   0.8%   22.1%
Platinum        XPT=     1607.50    21.20   1.3%    9.7%
Palladium       XPD=      553.50     6.25   1.1%   36.6%
Gold Fix        XAUFIX=  1267.00    -3.40  -0.3%   14.8%
Silver Fix      XAGFIX=    20.44    13.00   0.6%   20.3%
Platinum Fix    XPTFIX=  1584.50     5.50   0.3%    8.1%
Palladium Fix   XPDFIX=   546.00     5.00   0.9%   35.8%
 (Reporting by Frank Tang; Editing by Lisa Shumaker)

























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