US gold hits 2-week low, under $1,040 on dollar rise
NEW YORK, Oct 26 (Reuters) - New York gold futures ended at their lowest level in more than two weeks on Monday as a sudden resurgence of the dollar decreased bullion's appeal as a hedge
against a depreciating U.S. currency .
For the latest detailed report, click on [GOL/].
GOLD
* December gold futures GCZ9 settle down $13.60, or 1.3 percent, at $1,042.80 an ounce on the COMEX division of the NYMEX.
* Range from $1,060.80 to $1,038.20 -- the weakest price since Oct. 7. December scaled a record high $1,072 on Oct. 14.
* Gold's minor correction driven by selling related to dollar-euro movement and technical weakness - Auramet Trading.
* Euro extends losses against the dollar, dropping 1 percent to session lows. [USD/]
* Technical selling accelerates after December contract broke below support level at 14-day moving average.
* Price volatility increases ahead of COMEX November gold and silver option expirations on Tuesday.
* Gold weighed down by falling oil, which dropped more than 2 percent and briefly dipped below $78 a barrel.
* Gold-to-oil ratio hovers just above 13 at 13.26, up from previous session's 13.14.
* COMEX estimated final volume at 156,430 lots.
* Spot gold XAU= at $1,037.90 an ounce at 2:53 p.m. EDT (1853 GMT), against $1,053.95 late in New York in the previous session.
* London afternoon gold fix XAUFIX= $1,054.
SILVER
* December silver SIZ9 ends down 62.8 cents, or 3.5 percent, at 17.095 an ounce in choppy trade, down with gold.
* Ranged $17.01 to $17.80.
* COMEX estimated final volume at 45,295 lots.
* Spot silver XAG= was at $17.08, versus its previous finish of $17.65 an ounce.
* London silver fix XAGFIX= at $17.61 an ounce.
PLATINUM
* January platinum PLF0 finishes down $23.70, or 1.7 percent, at $1,345.80 an ounce on broad-based metals weakness.
* Spot platinum XPT= was at $1,335.50, compared with its previous finish of $1,358.50.
PALLADIUM
* December palladium PAZ9 closes down $6.20, or 1.8 percent, at $333.25 an ounce, tracking platinum.
* Spot palladium XPD= was at $329.50, compared with its previous session close at $333.
Close Change Pct 2008 YTD
Chg Close % Chg
US gold GCZ9 1042.80 -13.6 -1.3 884.3 17.9
US silver SIZ9 17.095 -0.628 -3.5 11.295 51.4
US platinum PLF0 1345.80 -23.70 -1.7 941.50 42.9
US palladium PAZ9 333.25 -6.20 -1.8 188.70 76.6
Prices at 2:54 p.m. EDT (1854 GMT)
Gold XAU= 1037.95 -16.00 -1.5 878.20 18.2
Silver XAG= 17.09 -0.56 -3.2 11.30 51.2
Platinum XPT= 1335.50 -23.00 -1.7 924.50 44.5
Palladium XPD= 329.50 -3.500 -1.1 184.50 78.6
Gold Fix XAUFIX= 1054.00 -1.00 -0.1 836.50 26.0
Silver Fix XAGFIX= 17.61 -4.00 -0.2 14.76 19.3
Platinum Fix XPTFIX= 1364.00 5.00 0.4 1529 -10.8
Palladium FixXPDFIX= 336.00 1.00 0.3 365.0 -7.9
(Reporting by Frank Tang; Editing by Lisa Shumaker)
© Copyright Thomson Reuters 2024. All rights reserved.