US gold futures ended 3 percent lower on Wednesday, trading near a six-week low on forced liquidation related to margin calls as an increase in investor appetite for risk diminished bullions safe-haven appeal. Gold for April delivery settled down $27.70, or 3 percent, at $889.10 an ounce on the COMEX division of the New York Mercantile Exchange.
GOLD: Ranged between $917.50 and $882.70, which marked the cheapest level since January 29. The gold-oil ratio was at 18.32 on Wednesday, compared with 18.53 the previous session. COMEX estimated midday volume at 159,723 lots and options turnover of 7,547 contracts. Spot gold was at $889.50 an ounce at 1:50 pm EDT (1750 GMT), down 2.7 percent from its last quote in New York late Tuesday.
SILVER: COMEX May silver ended down 73.5 cents, or 5.8 percent, at $11.935 an ounce as pent-up selling and golds decline heavily weighed down on prices. Ranged $12.760 to $11.890 - the weakest level since January 29. COMEX estimated midday volume at 18,210 lots. Spot silver at $12.02 an ounce, down 5.4 percent from its Tuesday finish.
PLATINUM: NYMEX April platinum finished down $9.40 at $1,042.40 an ounce as a weaker stock market hurt industrial metals. Spot platinum at $1,030.00 an ounce, down 1.3 percent from its previous close.
PALLADIUM: June palladium closed down $3.20, or 1.6 percent, at $194.65 an ounce, tracking platinums weakness. Spot palladium at $191.00 an ounce, up 0.3 percent from its late Tuesday New York quote.
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