Sunday, August 8, 2010

US bullion ends 1 pct down as investors take increase

Mon Mar 8, 2010 3:57pm EST

NEW YORK, March 8 (Reuters) - U.S. gold ended 1 percentlower on Monday as technical selling and lower risk sentimentprompted bullion investors to lock in profits after last week"srally. * For the latest detailed report, click on [GOL/]. GOLD * COMEX April GCJ0 settles down $11.20 at $1,124 anounce. * Ranged from $1,118.50 to $1,138. * Unwinding of excessive fear trade linked to Greece andEurope weighs on gold - Zachary Oxman at TrendMax Futures. * Gold traders take profits after prices rose $20 last weekdue to currency volatility. * Profit-taking seen after CFTC report showed increase innet long noncommerical gold futures position. [ID:nN0597531] * Selling related to London afternoon gold fix weighed onprices - COMEX floor trader Jonathan Jossen. * Heavy sell-stops positioned below $1,122 an ounce, and abreak below that could drag prices to around $1,117 - traders. * Volume spiked with downward move around London fix, butvolatility remains low - Jossen. * Comex estimated final volume at 146,038 contracts. * Spot gold XAU= at $1,120.75 an ounce at 3:39 p.m. EST(2039 GMT), compared with $1,133.80 late in New York in theprevious session. * London gold afternoon fix XAUFIX= at $1,125.75. SILVER * May SIK0 ends down 11 cents at $17.272 an ounce, takingthe lead from gold. * Range $17.125 to $17.530. * COMEX estimated final volume at 27,356 contracts. * Spot silver XAG= at $17.16 an ounce, compared with theprevious session"s $17.32 late quote in New York. * London silver XAGFIX= fix at $17.33 an ounce. PLATINUM * April PLJ0 finishes up $21, or 1.3 percent, at$1,600.10 an ounce on bargain hunting after palladium recentlyoutperformed platinum. * Spot platinum XPT= at $1,596 an ounce. PALLADIUM * June palladium PAM0 closes down $5.35, or 1.1 percent,at $471.35 an ounce as players take profits after last week"sgains based on optimism about global autocatalyst demand. * Spot palladium XPD= at $470 an ounce. Close Change Pct 2009 YTD Chg Close % ChgUS gold GCJ0 1124.00 -11.2 -1.0 1096.20 2.5US silver SIK0 17.272 -0.110 -0.6 16.845 2.5US platinum PLJ0 1600.10 21.00 1.3 1471.00 8.8US palladium PAM0 471.35 -5.35 -1.1 408.85 15.3Prices at 2:47 p.m. EST (1947 GMT)Gold XAU= 1123.00 -10.80 -1.0 1096.35 2.4Silver XAG= 17.20 -0.12 -0.7 16.84 2.1Platinum XPT= 1596.00 26.50 1.7 1465.50 8.9Palladium XPD= 469.00 -2.000 -0.4 405.50 15.7Gold Fix XAUFIX= 1125.75 -8.25 -0.7 1104 2.0Silver Fix XAGFIX= 17.33 8.00 0.5 16.99 2.0Platinum Fix XPTFIX= 1603.00 5.00 0.3 1466 9.3Palladium FixXPDFIX= 475.00 2.00 0.4 402 18.2 (Reporting by Frank Tang; editing by Jim Marshall)

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