New York gold futures ended higher on Tuesday as investors sought a safe haven after a sharply weaker-than-expected US existing home sales report sparked worries about a double-dip recession. COMEX December gold futures settled up $4.90 at $1,233.40 an ounce on the COMEX division of the NYMEX.
Ranged from $1,211.70 to $1,237.50 an ounce. COMEX estimated final volume at a busy 133,570 lots. Spot gold at $1,229.60 an ounce at 3:25 pm EDT (1925 GMT), versus the previous session's late quote at $1,223.40 an ounce. COMEX September silver ends up 38.6 cents, or 2.2 percent, at $18.378 an ounce, on pent-up investment demand and gold's coattails, said traders. Ranged $17.735 to $18.480 an ounce.
COMEX estimated final volume at 78,120 lots. Spot silver at $18.38 an ounce, compared with $17.93 late in the previous session. NYMEX October platinum finished up $9.10 at $1,517.70 an ounce on precious metals' strength. Spot platinum at $1,510.50 an ounce. NYMEX September palladium closes up 55 cents at $484.25 an ounce. Spot palladium at $484 an ounce.
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