US gold hits record; dollar drop boosts sentiment Mon Nov 16, 2009 2:35pm EST Email | Print | Share| Reprints | Single Page[-] Text [+] Market News Stocks at 13-month highs as dollar slips | Video Oil over $79 on dollar, U.S. consumer data Stocks rally on rising commodities, weaker dollar | Video More Business & Investing News... Featured Broker sponsored link NEW YORK, Nov 16 (Reuters) - U.S. gold futures hit a record high above $1,140 an ounce on Monday as a weakened dollar boosted risk appetite for investments across the board, and silver and platinum group metals also scaled new highs. For the latest detailed report, click on [GOL/]. GOLD * COMEX December gold GCZ9 settles up $22.50, or 2 percent, at $1,139.20 an ounce on the NYMEX. * Range spanned from $1,119.50 to $1,143.40. * Gold supported as dollar accelerates losses. The greenback drops on rising investor risk tolerance. [USD/] * Gold bulls encouraged by a nearly 2 percent Wall Street rally as oil rises towards $80 a barrel. * World leaders at the Asia Pacific summit suggests China may not be ready to let the yuan rise against the dollar. [ID:nN16500414] * Dollar dips after APEC, increases demand for all risky assets and reinforces commodities bull market - James Steel at HSBC. * No signs that gold prices could head for correction soon - Steel. * Year to date, gold has risen 30 percent. * COMEX estimated 1 p.m. volume at 154,711 lots. * Spot gold XAU= at $1,142.70 an ounce at 2:12 p.m. EST (1912 GMT), compared with $1,118.50 late in the previous session in New York. * London's afternoon gold fix XAUFIX= at $1,130 an ounce. SILVER * December silver SIZ9 ends up $1.02, or 5.9 percent, at $18.400 an ounce on gold's strength. * Ranged from $17.475 to $18.450 -- the highest price since August 2008. * Silver looks toppish, correction possible - HSBC's Steel. * COMEX estimated 1 p.m. volume at 53,716 lots. * Spot silver XAG= was at $18.41 against $17.41 in the previous session in New York. * London silver fix XAGFIX= at $17.740. PLATINUM * January platinum PLF0 finishes up $55.90, or 4 percent, at $1,444.60 an ounce as general economic optimism boosts the metal's autocatalyst demand. * Spot platinum XPT= $1,444.50 an ounce. PALLADIUM * December palladium PAZ9 closes up $19.25, or 5.4 percent, at $376 an ounce, on strong investment buying and platinum's gains. * Spot palladium XPD= $373 an ounce. Close Change Pct 2008 YTD Chg Close % Chg US gold GCZ9 1139.20 22.5 2.0 884.3 28.8 US silver SIZ9 18.400 1.020 5.9 11.295 62.9 US platinum PLF0 1444.60 55.90 4.0 941.50 53.4 US palladium PAZ9 376.00 19.25 5.4 188.70 99.3 Prices at 2:12 p.m. EST (1912 GMT) Gold XAU= 1142.80 24.30 2.2 878.20 30.1 Silver XAG= 18.42 1.01 5.8 11.30 63.0 Platinum XPT= 1445.00 55.00 4.0 924.50 56.3 Palladium XPD= 374.00 20.500 5.8 184.50 102.7 Gold Fix XAUFIX= 1130.00 1.25 0.1 836.50 35.1 Silver Fix XAGFIX= 17.74 41.75 2.4 14.76 20.2 Platinum Fix XPTFIX= 1424.00 6.00 0.4 1529 -6.9 Palladium FixXPDFIX= 369.00 6.00 1.7 365.0 1.1 (Reporting by Frank Tang; Editing by Walter Bagley)
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