US gold higher

25 Jun, 2009

New York gold futures ended higher on Tuesday as bullion's dollar-hedge buying picked up as the US currency fell sharply against the euro, but signs of lagging investment demand from exchange-traded funds limited further gains. August settle up $3.30 at $924.30 an ounce on the COMEX division of the New York Mercantile Exchange.
GOLD: Ranging from $913.20 to $925.40. Gold boosted as the dollar fell broadly as stabilising equity markets around the world eroded safe-haven flows into the greenback. COMEX estimated 1 pm volume at 88,579 lots. Spot gold traded at $924.40 at 2:09 pm EDT (1809 GMT), down 0.3 percent from its previous session.
SILVER: July finished up 14 cents, or 1 percent, at $13.845 an ounce, tracking gold's gains. Ranging $13.595 to $13.855. COMEX estimated 1 pm volume at 37,469 lots. Spot silver was at $13.85 an ounce, up 0.9 percent from its previous finish.
PLATINUM: July ended down $3.70 at $1,165.40 an ounce on sluggish autocatalyst demand from the ailing auto industry. Shares in Anglo American slid on Tuesday after the mining group rejected a merger proposal from rival Xstrata, which some analysts said was unlikely to mount a hostile bid. Spot platinum at $1,159.50 an ounce, down 0.5 percent from its previous session.
PALLADIUM: September closed up $3.10, or 1.3 percent, at $237 an ounce on bargain hunting after Monday's sharp losses. Spot palladium was at $234 an ounce, up 0.9 percent from its previous finish.

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