New York gold futures rose on Friday as solid crude oil gains and a lower dollar prompted bullion investors to add long positions ahead of the Memorial Day holiday. The June gold contract on COMEX division of New York Mercantile Exchange up $8.90 to $927.20 an ounce at 10:38 am EDT (1438 GMT).
June futures surged earlier to $929.50, near a one-month high. The session low was $914.70. COMEX estimated 10:00 am volume at 74,920 lots. US commodities markets will be closed on Monday due to the Memorial Day holiday. Spot gold at $925.95/926.95 an ounce, compared with $917.60/918.80 in late Thursday trade.
July platinum down $9.80 to $2,174.00 an ounce. Profit taking after its recent sharp rally lends pressure to the platinum market. Spot platinum quoted at $2,162.50/2,182.50. September palladium down $3.10 at $457.85 an ounce. Spot palladium quoted at $448/456. July silver futures up 14.0 cents at $18.165 an ounce. Spot silver at $18.12/18.17 an ounce versus the $17.92/17.98 late quote of Thursday.