November 3, 2009 / 4:40 PM / in 8 years

US gold hits record high $1,081.70/oz on IMF sale

 NEW YORK, Nov 3 (Reuters) - U.S. gold futures scaled an
all-time high $1,081.70 an ounce on Tuesday, surpassing the
previous record set Oct. 14, boosted by technical buying and
news of a gold sale by the International Monetary Fund (IMF) to
India.
 For the latest detailed report, click on [GOL/].
 GOLD
 * December gold GCZ9 up $23.10, or 2.2 percent, at
$1,077.10 an ounce at 11:13 a.m. EST (1613 GMT) on the COMEX
division of NYMEX.
 * Ranged from $1,055.50 to $1,081.70.
 * Gold futures buying increased after the IMF sold 200
tonnes of gold to the Reserve Bank of India. [ID:nN02468120]
 * News led to expectations that IMF's remaining 203.3
tonnes for sale will be concluded with minimal impact to open
market. [ID:nDEL484779]
 * Gold boosted on the notion that India could buy more from
the IMF, and news that gold producers could accelerate hedge
buybacks should support - Heraeus.
 * Barrick Gold and AngloGold Ashanti said they could
accelerate hedgebook cuts. [ID:nL2318309]
 * Gold's sudden rally supported by heavy buy-stops at
$1,069 to $1,070 -- a technical triple top - trader.
 * Official sector gold holdings expected to be strong
despite sale by the IMF - European Central Bank official.
[ID:nL2359370]
 * COMEX estimated 10 a.m. volume at 131,679 lots.
 * Gold-to-oil ratio at 13.82, up from 13.57 from the
previous session.
 * Spot gold XAU= at $1,076.90 an ounce, against $1,059.15
late in New York in the previous session.
 * London's afternoon gold fix XAUFIX= at $1,061.
 SILVER
 * December silver SIZ9 up 49.50 cents, or 3 percent, at
$16.935 an ounce, rising with gold.
 * Ranged from $16.245 to $17.085 -- a one-week high.
 * COMEX estimated 10 a.m. volume at 35,100 lots.
 * Spot silver XAG= was at $16.61 versus $16.43 in the
previous session in New York.
 * London silver fix XAGFIX= at $16.35.
 PLATINUM
 * January platinum PLF0 up $9.90 at $1,348 an ounce,
taking the lead from gold.
 * Spot platinum XPT= was at $1,340, compared with late
previous session quote of $1,334 in New York.
 PALLADIUM
 * December palladium PAZ9 down $4.85, or 1.5 percent, at
$321.50 an ounce on profit-taking.
 * Spot palladium XPD= was at $321, compared with the
previous session's close at $321.50.
Prices at 11:14 a.m. EST (1614 GMT)
                       Last  Change   Pct      2008   YTD
                                      Chg    Close  % Chg
US gold       GCZ9    1077.00   23.00   2.2   884.30   21.8
US silver     SIZ9     16.970   0.530   3.2   11.295   50.2
US platinum   PLF0    1349.80   11.70   0.9   941.50   43.4
US palladium  PAZ9     326.95    0.60   0.2   188.70   73.3
Gold          XAU=    1075.90   16.75   1.6   878.20   22.5
Silver        XAG=      16.61    0.18   1.1    11.30   47.0
Platinum      XPT=    1341.50    7.50   0.6   924.50   45.1
Palladium     XPD=     321.00   -0.50  -0.2   184.50   74.0
Gold Fix      XAUFIX= 1061.00    3.00   0.3   836.50   26.8
Silver Fix    XAGFIX=   16.35  -23.00  -1.4    14.76   10.8
Platinum Fix  XPTFIX= 1325.00    9.00   0.7  1529.00  -13.3
Palladium Fix XPDFIX=  318.00    3.00   0.9   365.00  -12.9
 (Reporting by Frank Tang; Editing by Lisa Shumaker)






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