US gold hits 4-wk low as dollar rises on data
New York gold futures hit a four-week low Friday, reversing initial gains as a resurgent dollar following upbeat U.S. economic data sent jittery bullion investors racing to cut positions.
For the latest detailed report, click on [GOL/].
GOLD
* COMEX February gold GCG0 settles down $6.30 as $1,119.90 an ounce on the COMEX division of NYMEX.
* Ranging from $1,143.40 to $1,110.20 - the lowest price since Nov. 13.
* Gold pressured as dollar rises further against the euro and other major currencies after positive U.S. retail and consumer sentiment data.
* Dollar strength will make more recent gold buyers reconsider positioning - Rick Bensignor at broker Execution LLC.
* Investor demand will depend upon how committed investors are to gold's long-term bull run - Bensignor.
* Position liquidation of big players before year end weighs on gold prices - Miguel Perez-Santalla at Heraeus.
* February contract trading more than $100 below its record high of $1,227.50 set Dec. 3.
* Traders citing liquidation from fast money into gold for the metal's sharp pullback this week.
* Gold-to-oil ratio 16.05, up tad from the previous session's 16.04.
* Spot gold XAU= at $1,115.55 at 2:45 p.m. EST (1945 GMT), against the previous session in New York at $1,130.15.
* COMEX estimated final volume at 205,385 lots.
* London's afternoon gold fix XAUFIX= at $1,124.
SILVER
* March silver SIH0 ends down 9.8 cents at $17.090 an ounce largely driven by gold's decline.
* Ranging from $17.115 to $17.640.
* COMEX estimated final volume at 36,319 lots.
* Spot silver XAG= was at $17.13 against $17.37 in the previous session in New York.
* London silver fix XAGFIX= at $17.51.
PLATINUM
* January platinum PLF0 finishes down $1.80 at $1,422.70 an ounce, following gold's decline.
* Spot platinum XPT= at $1,426.50.
PALLADIUM
* March palladium PAH0 closes down $2.95 at $362.15 an ounce on dips buying.
* Spot palladium XPD= at $358.50.
Close Change Pct 2008 YTD
Chg Close % Chg US gold GCG0 1119.90 -6.3 -0.6 884.3 26.6US silver SIH0 17.090 -0.098 -0.6 11.295 51.3US platinum PLF0 1422.70 -1.80 -0.1 941.50 51.1US palladium PAH0 362.15 -2.95 -0.8 188.70 91.9Prices at 2:34 p.m. EST (1933 GMT)Gold XAU= 1115.60 -14.55 -1.3 878.20 27.0Silver XAG= 17.11 -0.26 -1.5 11.30 51.4Platinum XPT= 1426.50 4.50 0.3 924.50 54.3Palladium XPD= 359.00 -3.500 -1.0 184.50 94.6Gold Fix XAUFIX= 1124.00 -16.00 -1.4 836.50 34.4Silver Fix XAGFIX= 17.51 12.00 0.7 14.76 18.6Platinum Fix XPTFIX= 1429.00 7.00 0.5 1529 -6.5Palladium FixXPDFIX= 367.00 0.00 0.0 365.0 0.5(Reporting by Frank Tang; Editing by Christian Wiessner)
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