US gold futures rose on Wednesday on technical buying and a weaker dollar, even as news showed that global gold jewellery demand fell amid a recession. December gold up $4.90 at $944.10 an ounce at 10:11 am EDT (1411 GMT) on the COMEX division of the New York Mercantile Exchange. Ranging from $933.30 to $946.80.
GOLD: Gold futures accelerated gains on buy-stops as December contract rose above Tuesday's session high around $942 an ounce - traders. US gold demand in the second quarter, however, rose 10 percent year-over-year as investment demand nearly doubled and offset weaker jewellery buying - WGC. COMEX estimated 9 am gold volume at 28,441 lots. Spot gold at $942.55 an ounce, against $937.30 in late Tuesday dealings in New York. London afternoon gold fix at $943 an ounce.
SILVER: September silver down 11 cents at $13.850 an ounce as doubts about a nascent economic recovery hurt the white metal, which has the characteristics of both precious and industrial metals. Ranging from $13.495 to $14.15 an ounce. COMEX estimated 9 am silver volume at 23,496 lots. Spot silver at $13.83 an ounce, versus $13.96 an ounce in Tuesday's late business. London silver fixed at $13.585 an ounce.
PLATINUM: October platinum up $2.90 at $1,235 an ounce on bargain hunting after sharp decline earlier this week. Spot platinum at $1,233 an ounce against $1,228.
PALLADIUM: September palladium down 25 cents at $272.10 an ounce, following weakness of base metals. Spot palladium at $270 an ounce, against its previous finish of $271.
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