September 22, 2010 / 7:15 PM / 9 years ago

U.S. gold rallies to record for 5th session

 NEW YORK, Sept 22 (Reuters) - U.S. gold futures rallied to
record highs for a fifth straight session on Wednesday, rising
toward $1,300 an ounce, after the Federal Reserve raised
expectations of further monetary easing.
 * For the latest detailed report, click on [GOL/].
 GOLD
 * COMEX December gold futures GCZ0 settled up $17.80, or
1.4 percent, at $1,292.10 an ounce on the COMEX division of the
NYMEX.
 * Ranged from $1,287.50 to $1,298 -- an all-time high.
 * Gold benefited as the dollar fell broadly against major
currencies after Tuesday's Fed statement signaled its readiness
to pump billions of dollars into the economy through purchases
of government debt, a process known as quantitative easing.
 * Gold rallied on concern that the dollar could head into
an extended period of weakness, which often boosts bullion -
Frank McGhee at Integrated Brokerage Services.
 * The inverse gold/dollar correlation has been shaky this
year, but Reuters data showed it has strengthened to a negative
0.8 in the past five days from 0.3 for the past 25 days.
 * COMEX final gold volume at a 118,744 lots, about 13
percent above its 30-day average, preliminary Reuters data
showed.
 * Spot gold XAU= was at $1,290 an ounce by 2:35 p.m. EDT
(1835 GMT), up from the previous session's last trade at
$1,285.90 an ounce.
 * London afternoon gold fix XAUFIX= at $1,293.50 an
ounce.
 SILVER
 * COMEX December silver SIZ0 ended up 41.5 cents, or 2
percent, at $21.055 an ounce on gold's coattails.
 * Ranged from $20.930 to $21.200 an ounce.
 * COMEX estimated final volume at 33,499 lots.
 * Spot silver XAG= was at $21.09 in late New York
dealings, against $20.93 in the previous session.
 * London silver was fixed XAGFIX= at $21.08 an ounce.
 PLATINUM
 * NYMEX October platinum PLV0 finished up $20.50, or 1.3
percent, to finish at $1,632.90 an ounce, rebounding from the
previous session's decline - traders.
 * Spot platinum XPT= at $1,627.50 an ounce.
 PALLADIUM
 * NYMEX December palladium PAZ0 closed up $11.85, or 2.2
percent, at $541.90 an ounce on broad-based precious metals'
gain.
 * Spot palladium XPD= at $541 an ounce.
Prices at 2:38 p.m. EDT (1838 GMT)    
                          LAST/      NET    PCT     YTD
                          CLOSE      CHG    CHG     CHG
US gold         GCZ0     1292.10    17.80   1.4%   17.9%
US silver       SIZ0      21.036    0.416   0.0%   24.9%
US platinum     PLV0     1632.90    20.50   1.3%   11.0%
US palladium    PAZ0      539.65    11.85   2.2%   32.0%
Gold            XAU=     1290.65     4.75   0.4%   17.7%
Silver          XAG=       21.10     0.17   0.8%   25.3%
Platinum        XPT=     1628.50     8.00   0.5%   11.1%
Palladium       XPD=      542.50    16.00   3.0%   33.8%
Gold Fix        XAUFIX=  1293.50     1.75   0.1%   17.2%
Silver Fix      XAGFIX=    21.08    32.00   1.5%   24.1%
Platinum Fix    XPTFIX=  1632.00     4.00   0.2%   11.3%
Palladium Fix   XPDFIX=   543.00     6.00   1.1%   35.1%
 (Reporting by Frank Tang; Editing by Walter Bagley)

























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