Gold futures ended below $900 an ounce Monday on profit taking and lessened flight-to-quality buying, triggered by optimism ahead of economic stimulus plans to be unveiled by the US government. Gold for April delivery settled down $21.50, or 2.4 percent, to $892.80 an ounce on the COMEX division of the York Mercantile Exchange.
GOLD: Gold futures under performed crude oil contracts. Gold/oil ratio turned up at 22.7 from 22.3 in the previous session. COMEX estimated 1 pm. volume at 91,038 lots, options turnover at 5,588 lots. COMEX gold open interest up 3,172 at 352,071 lots as of February 6. Spot gold was at $895.25 an ounce, down 1.8 percent from the last trade on Friday. London afternoon gold fix $895 an ounce.
SILVER: March ended down 33.0 cents, or 2.5 percent, at $12.830 an ounce, in tandem with gold's weakness. Ranged $12.785 to $13.115, near $13.180 four-month high. COMEX estimated 1 pm volume at 13,805 lots. Spot silver quoted at $12.88 an ounce, down 1.4 percent from its previous close. Silver fixed in London at $13.01 an ounce.
PLATINUM: NYMEX April platinum finished down $8.40 at $995.90 an ounce as investors took profits after Friday's gains based on hopes that a US stimulus plan will boost autocatalyst demand. Spot platinum quoted at $983.50 an ounce, down 1.6 percent from its last finish.
PALLADIUM: NYMEX March palladium closed down $7.50, or 3.5 percent, at $205.85 an ounce on platinum's decline. Spot palladium was at $206.50 an ounce, down 1.7 percent from its previous close on Friday.
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