US gold futures rallied more than 2 percent to end near $980 an ounce on Wednesday, marking the biggest one-day percentage gain since March, boosted by safe-haven demand amid renewed worries about the financial sector. December gold settled up $22, or 2.3 percent, at $978.50 an ounce on the COMEX division of the New York Mercantile Exchange.
GOLD: Ranging from $952.50 to $981.40 - the highest price since June 5. COMEX estimated final volume at 139,895 lots. Gold-oil ratio at 14.36, up from the previous session's 13.45. Spot gold at $976.65 an ounce at 3:07 pm EDT (2007 GMT), against $955.85 in late Tuesday dealings in New York.
SILVER: December silver finished up 30.5 cents, or 2 percent, at $15.365 an ounce, following gold's rally. Silver futures have recently outperformed gold, helped by better economic sentiment. Usually less-liquid silver has the characteristics of both precious and industrial metals. Ranged from $14.865 to $15.490 an ounce - the highest level since June 12. COMEX estimated final volume at 30,669 lots. Spot silver at $15.35 an ounce, versus its previous close of $15.04.
PLATINUM: October platinum ended up $3.30 at $1,230.10 an ounce, as gold's rally helped other precious metals erase initial losses. Spot platinum at $1,229 an ounce against $1,224.50.
PALLADIUM: December palladium closed down 50 cents at $288.95 an ounce as investors took profits. Spot palladium at $284.50 an ounce, against its previous finish of $287.
Comments
Comments are closed.