US gold futures finished Monday barely higher, after nearing its record high in early trade, but volumes were light and some investors were beginning to take profits after the psychologically potent $1,300 per ounce target was breached, analysts said.
COMEX December gold futures ended 50 cents higher at $1,298.60 an ounce on the COMEX division of the NYMEX. Range ran from $1,295.80 to $1,301.30. The contract high was a touch below the record at $1,301.60 set on Friday. COMEX estimated final gold volume at 76,294 lots, down about 28 percent from the 30-day average. Gold bullion edged up to a record $1,300 per ounce in European trade, a hair higher than the previous top at $1,299.95 set on Friday. By 3:30 pm EDT (1930 GMT), spot gold changed hands at $1,297.15 an ounce, up slightly from the prior closing bid at $1,295.60 an ounce.
COMEX December silver ended up 7.2 cents at $21.4710 an ounce, as investors sought a cheaper alternative in gold's run up. Higher range spanned $21.3650 to $21.6450 an ounce, the contract's highest since March 2008. COMEX estimated final volume at 24,337 lots, off about 40 percent from the 30-day average. Spot silver climbed to $21.47 in late New York dealings, against $21.41 previously. London silver was fixed higher at $21.54 an ounce.
NYMEX October platinum settled $9.70 lower at $1,630.10 an ounce. Spot platinum slipped to $1,630.50 an ounce, off Friday's close at $1,637.70 a tonne. NYMEX December palladium ended with $8.30 losses at $552.20 an ounce, moving down with platinum. Spot palladium fell to $549.50 an ounce from $556.70 an ounce late on Friday.
Comments
Comments are closed.