US gold futures ended higher after a quite, mixed session on Wednesday, whipsawing between higher physical demand ahead of a key gold-buying festival in top bullion buyer India and near-term deflationary pressures because of an ailing economy.
GOLD: Gold for June delivery settled up $1.50 at $893.50 an ounce on the COMEX division of the New York Mercantile Exchange. Ranged from $886.20 to $902.10. Gold futures initially turned lower after government data showed US consumer prices unexpectedly fell in March and recorded their first 12-month drop since 1955, denting the metal's appeal as an inflation hedge.
Gold-oil ratio at 18.0 on Wednesday compared with 18.1 in the previous session.Spot gold traded at $890.30 an ounce at 2:33 pm EDT (1833 GMT), up 0.2 percent from its late Tuesday quote in New York.
SILVER: COMEX May silver ended up 3.5 cents at $12.800 an ounce, following gold's rally. Ranged between $12.645 and $12.920. COMEX estimated 1 pm electronic futures volume at 9,068 lots. Floor volume is not available due to a technical problem.
PLATINUM: NYMEX July platinum finished up $6.70 at $1,225.00 an ounce on signs that China's autocatalyst demand could rise soon. Platinum group metals are used in catalytic converters to clean exhaust fumes for vehicles.