Sunday, August 1, 2010

US bullion hits six-week low as dollar rallies

Wed Mar 24, 2010 3:46pm EDT Stocks & &

NEW YORK, March 24 (Reuters) - U.S. gold futures fell to asix-week low while finishing 1.4 percent lower on Wednesday asa sharp dollar rally amid lower investor appetite promptedselling of the metal across the board. * For the latest detailed report, click on [GOL/]. GOLD * COMEX April GCJ0 settles down $14.90, or 1.4 percent,at $1,088.80 an ounce. * Ranged $1,106 to $1,084.80 - lowest since Feb. 12. * Gold pressured as dollar jumped over 1 percent againstthe euro EUR= and a basket of currencies .DXY. [USD/] * Surging U.S. interest rates, driven by sharply higherU.S. Treasury yields, prompted selling - Bill O"Neill at LOGICAdvisors in New Jersey. * Weak euro, losses in equities markets drag gold lower -Peter Buchanan, senior economist at CIBC World Markets. * U.S. currency extends gains after data showed new ordersfor durable goods rose for third straight month in February. * Euro slumps to 10-month low against dollar on a downgradeof Portugal"s debt. [ID:nLDE62N14Y] * Sentiment cautious as investors look forward to CFTCpublic hearing on futures and options in metals on Thursday.[ID:nN2390912] * COMEX final volume 195,103 lots. * Spot gold XAU= at $1,085.60 an ounce at 3:18 p.m. EDT(1925 GMT), versus $1,101.65 late in New York in the previoussession. * London gold afternoon fix XAUFIX= at $1,090.75. SILVER * May SIK0 finishes down 38.6 cents, or 2.3 percent, at$16.641 an ounce, tracking weakness in gold and metals. * Range from $17.045 to $16.580. * Silver largely ignores a strike scheduled forBuenaventura"s (BVN.N) two silver and gold mines in Peru onFriday - traders. * COMEX final volume 27,379 lots. * Spot silver XAG= at $16.57 against $16.97 an ounce inthe previous session late quote in New York. * London silver XAGFIX= fixed at $16.68 an ounce. PLATINUM * April PLJ0 ends down $20.60, or 1.3 percent, at$1,587.90 an ounce, boosted by industrial metals" gains. * Spot platinum XPT= at $1,577 an ounce. PALLADIUM * June palladium PAM0 closes down $10.65, or 2.3 percent,at $453.90 an ounce, tracking platinum. * Spot palladium XPD= at $440.50 an ounce. Close Change Pct 2009 YTD Chg Close % ChgUS gold GCJ0 1088.80 -14.9 -1.4 1096.20 -0.7US silver SIK0 16.641 -0.386 -2.3 16.845 -1.2US platinum PLJ0 1587.90 -20.60 -1.3 1471.00 7.9US palladium PAM0 453.90 -10.65 -2.3 408.85 11.0Prices at 3:11 p.m. EDT (1911 GMT)Gold XAU= 1085.45 -16.20 -1.5 1096.35 -1.0Silver XAG= 16.55 -0.42 -2.5 16.84 -1.7Platinum XPT= 1576.50 -30.50 -1.9 1465.50 7.6Palladium XPD= 441.00 -23.500 -5.1 405.50 8.8Gold Fix XAUFIX= 1090.75 -3.25 -0.3 1104 -1.2Silver Fix XAGFIX= 16.68 -10.00 -0.6 16.99 -1.8Platinum Fix XPTFIX= 1586.00 4.00 0.3 1466 8.2Palladium FixXPDFIX= 456.00 2.00 0.4 402 13.4 (Reporting by Frank Tang; editing by Rene Pastor)

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