US gold futures ended slightly higher on Wednesday, erasing initial gains as equity market losses deepened, and as the dollar soared against major currencies on sharply lower risk appetite. COMEX December gold futures settled up $1.20 at $1,199.20 an ounce on the COMEX division of the NYMEX. Ranged $1,194.20 to $1,210.20 an ounce.
COMEX estimated final volume at a modest 112,906 lots. Spot gold at $1,197.65 an ounce at 3:07 pm EDT (1907 GMT), versus the previous session's late quote at $1,201.85 an ounce. COMEX September silver ends down 25.6 cents, or 1.4 percent, at $17.902 an ounce, as weaker economic sentiment hurt expectations of industrial metal such as silver. Ranged $17.795 to $18.355 an ounce.
COMEX estimated final volume at 36,523 lots. Spot silver at $17.86 an ounce, compared with $18.25 late in the previous session. NYMEX October platinum finishes down $16.40, or 1.1 percent, at $1,520.60 an ounce on falling equity markets amid doubts about economic recovery. Spot platinum at $1,514 an ounce. September palladium closes down $5.90, or 1.3 percent, at $464.70 an ounce on broad-based commodities weakness. Spot palladium at $463 an ounce.