US gold futures ended higher for a third straight day on Friday after a unilateral cease-fire declared by Libyan leader Muammar Gaddafi failed to calm investor nerves as political tensions remained elevated across the Arab world..
GOLD: COMEX April gold futures settled up $11.90 at $1,416.1 an ounce on the COMEX division of the NYMEX. Range ran from $1,402.20 to $1,424.10 an ounce.
Bullion benefited from a weaker dollar as traders braced for more official action after the G7 nations co-ordinated to intervene in the yen, and as fresh political unrest was reported in Yemen, Syria and Bahrain.
Uncertainty surrounding Libya and Gaddafi's cease-fire underpinning gold - Dennis Gartman, author of the Gartman Letter. Total COMEX trade was about 15 percent lower than its 30-day average. Lower-than-usual turnover during gold's gains prompted some traders to doubt if the metal lacked momentum to rise further. Spot gold rose 1.1 percent to $1,418.10 an ounce by 2:58 pm EDT (1858 GMT). London afternoon gold fix at $1,420 an ounce.
SILVER: COMEX May silver finished up 80 cents or 2.3 percent at $35.058 an ounce, tracking gold. Range spanned $34.240 to $35.425 an ounce. Spot silver rose 2.5 percent to $35.02 an ounce, with volume about one-third lower than its 30-day norm. London silver fix at $35.15 an ounce.
PLATINUM: NYMEX April platinum ended up $16.50 at $1,723.4 an ounce on broad precious metals gains. Spot platinum gained 1.1 percent to 1,716.49 an ounce. PALLADIUM: NYMEX June palladium closed up 14.40 cents or 2 percent at $731.20 an ounce on platinum's coattails. Spot palladium climbed 3.3 percent to $727.97 an ounce.