US gold higher

16 May, 2009

US gold futures ended up on Thursday after trading in a narrow range, helped by investor demand for portfolio protection against inflation as well as a weaker US dollar. Gold for June delivery settled up $2.50 at $928.40 an ounce on the COMEX division of the New York Mercantile Exchange.
GOLD: COMEX estimated final volume at 96,467 lots. COMEX gold, open interest up 1,901 at 361,418 lots, as of May 13, a sign of buying, by ETFs in the previous session. Spot gold traded at $927.65 an ounce at 2:39 pm EDT (1839 GMT), up 0.2 percent from its late Wednesday quote in New York.
SILVER: COMEX July silver ended up 2.00 cents at $14.04 an ounce in a mixed session. Ranged from $13.71 to $14.09. Spot silver was at $14.04 an ounce, up 0.7 percent from its previous finish.
PLATINUM: NYMEX July platinum finished down $5.70 at $1,117.50 an ounce as gloomy outlook for the auto sector dampened demand for platinum group metals as catalytic converter.Spot platinum at $1,110.50 an ounce, down a hair from its late Wednesday quote.
PALLADIUM: June palladium closed down 90 cents at $225.85 an ounce, tracking platinum's weakness. Spot palladium was at $223.00 an ounce, up 1.1 percent from its previous finish.

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