US gold futures more than 1 percent on Thursday, erasing early session gains as fresh worries about a global recession prompted funds to ditch all assets from gold to commodities and stocks. December settled down $10.20, or 1.4 percent, to $732.20 an ounce on the COMEX division of the New York Mercantile Exchange.
Range between $727.50 and $761.30. Resumption of fund deleveraging seen, and gold is not attracting flight to safety demand - Bill O'Neill, managing partner of LOGIC Advisors. COMEX estimated final volume at 23,646 lots. Spot silver at $10.07, down 2.6 percent from Wednesday's close of $10.34.
NYMEX January platinum finished down $41.70, or 4.7 percent, at $838.30 an ounce. Spot platinum fetched $826, down 4.2 percent from Wednesday's finish. December palladium closed up $3.60, or 1.6 percent, at $222.60 an ounce on pent-up buying after recent weakness. Spot palladium fetched $216.
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