| US Gold Futures End Lower, Market Digests IMF News |
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| 02/18/2010 | |
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&ndasp;NEW YORK, Feb 18 (Reuters)—U.S. gold settled slightly lower on Thursday, in a volatile session marked by investors' growing appetite for bullion, choppy action in the currency markets, and the International Monetary Fund's plan to sell gold to the open market.
GOLD * COMEX April GCJ0 shed $1.40 to end at $1,118.70 an ounce. * Range from $1,098.10 to $1,124.60. * A gloomy view of U.S. economy after mixed economic data, prompted investors to buy gold to hedge against risk—Michael Pento at Delta Global Advisors. * The dollar rose versus the euro in a volatile session. * News of gold sales by IMF on Wednesday had driven gold lower earlier on Thursday -- limited impact seen. * IMF latest sale plan could defy early predictions of strong gold appetite from central banks. * COMEX estimated final volume at 164,759 contracts * Spot gold XAU= at $1,120.55 at 2:34 p.m. EST (1934 GMT), compared with $1,106.00 late in New York on Wednesday. * London gold afternoon fix XAUFIX= at $1,118. SILVER * March SIH0 ended down 3.8 cents at $16.06 an ounce. * Ranged $15.675 to $16.265. * Spot silver XAG= at $16.11 an ounce, up from Wednesday's late quote ion New York at $15.84. * Comex estimated final volume at 45,365 contracts. * London silver XAGFIX= fix at $15.83 an ounce. PLATINUM * April PLJ0 sank $17.50 to finish at $1,519.60 an ounce. * Spot platinum XPT= at $1,525 an ounce. PALLADIUM * March palladium PAH0 fell $2.75 to settle at $435.25 an ounce. * Spot palladium XPD= at $435.50 an ounce. |
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