RTRS: US gold rises slightly on weak dollar, above $1,000
NEW YORK, Oct 5 (Reuters) - Gold futures edged up in quiet trade on
Monday, whipsawing between a weaker dollar and falling crude oil prices,
but staying above the $1,000 an ounce level.
For the latest detailed report, click on [GOL/].
GOLD
* December gold futures GCZ9 up 10 cents at $1,004.40 an ounce on the
COMEX division of the New York Mercantile Exchange.
* Ranging in a narrow $7 span from $1,001.60 to $1,008.60.
* The December contract largely traded near unchanged, as gold was
waiting for impetus from external markets to give the metal a clear
direction.
* The softer dollar is boosting interest in gold as a hedge against a
falling U.S. currency.
* The dollar fell against the euro and a basket of currencies on Monday
after a meeting of Group of Seven finance chiefs reinforced the market's
view policy-makers are comfortable with a gradually weakening dollar.
[USD/]
* However, weaker energy prices limited gold's rise. U.S. crude futures
fell more than $1 to below $69 on jitters over the pace of U.S. economic
recovery.
* Precious metals should be well supported this month with
reinforcement coming from expected weakness in the dollar, improving
jewelry demand from key consumer India - Tom Pawlicki, precious metals and
energy analyst at MF Global.
* Bullion holdings of the world's largest bullion-backed
exchange-traded fund, New York's SPDR Gold Trust GLD, edged up 1.221
tonnes or 0.1 percent on Friday. XAUEXT-NYS-TT
* Gold-to-oil ratio at 14.68, up from the previous session's 14.40.
* COMEX estimated 10 a.m. volume at 43,674 lots.
* Spot gold XAU= was at $1,003.20 an ounce versus $1,001.30, which
was the previous session's late New York quote.
* London afternoon gold fix XAUFIX= was at $1,005.50.
SILVER
* December silver SIZ9 down 3.5 cents at $16.195 an ounce, down with
other industrial metals.
* Ranged from $16.035 to $16.380.
* COMEX estimated 10 a.m. volume at 10,203 lots.
* Spot silver XAG= was at $16.15, versus its previous finish of 16.12
an ounce.
* London silver fix XAGFIX= at $16.23 an ounce.
PLATINUM
* January platinum PLF0 up $7.30 at $1,290.70 an ounce, rebounding
after last week's decline because of sharply weaker U.S. auto sales in
September after the conclusion of the brief "Cash for Clunkers" rebate
program.
* Spot platinum XPT= was at $1,282, compared with its previous finish
of $1,278.
PALLADIUM
* December palladium PAZ9 up $3.50, or 1.2 percent, at $301.70 an
ounce, up with platinum.
* Spot palladium XPD= was at $297.50, against its previous close of
$294.
Prices at 11:09 a.m. EDT (1509 GMT)
Last Change Pct 2008 YTD
Chg Close % Chg
US gold GCZ9 1004.70 0.40 0.0 884.30 13.6
US silver SIZ9 16.190 -0.040 -0.3 11.295 43.3
US platinum PLF0 1290.00 6.60 0.5 941.50 37.0
US palladium PAZ9 301.70 3.50 1.2 188.70 59.9
Gold XAU= 1003.45 2.15 0.2 878.20 14.3
Silver XAG= 16.14 0.02 0.1 11.30 42.8
Platinum XPT= 1282.50 4.50 0.4 924.50 38.7
Palladium XPD= 297.50 3.50 1.2 184.50 61.2
Gold Fix XAUFIX= 1005.50 1.25 0.1 836.50 20.2
Silver Fix XAGFIX= 16.23 2.00 0.1 14.76 10.0
Platinum Fix XPTFIX= 1279.00 6.00 0.5 1529.00 -16.4
Palladium Fix XPDFIX= 298.00 1.00 0.3 365.00 -18.4
(Reporting by Frank Tang; Editing by John Picinich)