US gold futures settled with moderate gains on Monday, helped by weakness in the dollar versus the euro amid renewed signs of economic gloom, but volumes were light and the range constrained, traders said. February finished $9.80, or 1.17 percent, higher at $847.20 an ounce on the COMEX division of the New York Mercantile Exchange.
GOLD: February set an inside range between $836.70 and $853.0 an ounce. COMEX put final gold turnover at light 58,113 lots. Spot gold was higher at $844.0 an ounce by 2:42 pm EST from $836.75 an ounce in late Friday business.
SILVER: March ended 1.0 cent, or 0.09 percent, higher at $10.86 an ounce, as it trailed gold. March traded in a band between $10.75 to $11.09. Spot silver edged down to $10.80 an ounce late on Thursday from $10.82 an ounce on Friday.
PLATINUM: NYMEX January platinum settled $5.90 higher at $857.20 an ounce. Platinum continued to benefit from Friday's news of a US automakers bailout package from the government. Platinum is used in autocatalysts to clean auto exhaust fumes. Spot platinum gave up ground to $845 late in Thursday's session from $846.50 an ounce by late Friday.
PALLADIUM: March palladium lost 3.30 cents, or 1.85 percent, to close at $174.65 an ounce. Palladium was also helped by last week's news of the US automaker's loan. The metal is also used in autocatalysts. Spot palladium moved down to $171, from Friday's $175.50.
Comments
Comments are closed.