New York gold futures ended higher on Tuesday as positive US economic data and inflation concerns revived fund interest, but increasing risk appetite amid better stock markets could dent safe-haven demand. Gold for June delivery settled up $2.10 at $904.30 an ounce on the COMEX division of the New York Mercantile Exchange. Ranged from $900.90 to $916.70.
GOLD: Positive US housing and construction data showed the economy could recover faster than expected, rekindling inflation worries and supporting gold - traders. Gold mining stocks, measured by the Gold Bugs index, turned lower after Monday's sharp equities rally.
Gold futures largely ignored news that Russian gold output rose by 42 percent to 31.39 tonnes in the first quarter from a year ago mainly due to increased gold processing capacity - Russia's main industry lobby. COMEX gold futures open interest up 2,520 at 334,360 lots as of May 4. Spot gold traded at $901.80 an ounce at 2:14 pm EDT (1824 GMT), down just a hair from its late Monday quote in New York.
SILVER: COMEX July silver finished up 30.70 cents, or 2.3 percent, at $13.420 an ounce, as less liquid silver outperformed gold on the back of a broad precious metals rally. Ranged from $12.995 to $13.615. Spot silver was at $13.34 an ounce, up 2.5 percent from its previous finish.
PLATINUM: NYMEX July platinum ended up $15.90, or 1.4 percent, at $1,137.90 an ounce as a brighter economic outlook should boost autocatalyst demand. Spot platinum at $1,127.50 an ounce, up 0.9 percent from its late Monday quote.
PALLADIUM: June palladium tracked platinum to close up 60 cents at $222.90 an ounce. Spot palladium was at $219.00 an ounce, up 0.5 percent from its previous finish.