US gold sharply up

14 Feb, 2009

US gold futures climbed above the $950 level on Thursday, ignoring a stronger dollar and weaker energy prices as investment buying surged in bullion-backed exchange-traded funds amid economic uncertainties. Gold for April delivery rose $3.70 to $948.20 an ounce at 10:40 am EST (1540 GMT) on the COMEX division of the New York Mercantile Exchange.
GOLD: COMEX estimated 9:00 am volume at 41,905 lots, and options turnover at 3,152 contracts. Spot gold was at $948.80 an ounce, up 1.1 percent from the last trade on Wednesday. London afternoon gold fix $943.25 an ounce.
SILVER: March eased 3.0 cents to $13.490 an ounce as investors took a breather after Wednesday's rally. COMEX estimated 9:00 am volume at 7,679 lots. Spot silver quoted at $13.48 an ounce, down 0.1 percent from its previous close. Silver fixed in London at $13.34 an ounce.
PLATINUM: NYMEX April platinum dropped $3.70 to $1,077.00 an ounce on profit taking following a recent rally on hopes that autocatalyst demand will soon recover due to a US economy stimulus plan. Spot platinum quoted at $1,069.00 an ounce, up 0.2 percent from its last finish.
PALLADIUM: NYMEX March palladium edged up 45 cents to $216.25 an ounce in light trade. Spot palladium was at $213.50 an ounce, up 0.7 percent from its previous close on Wednesday.

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