Gold rallies to $1,180 mark

London - Gold prices hit record highs at $1,180.00 an ounce in Europe on Wednesday, boosted by a report that India may consider buying more bullion from the International Monetary Fund, and the weaker dollar.

Spot gold was bid at $1,178.30 an ounce at 1022 GMT, against $1,168.90 late in New York on Tuesday.

U.S. gold futures for December delivery on the COMEX division of the New York Mercantile Exchange also hit a record $1,180.40 an ounce and were later up $12.80 to $1,178.60.

++++++++++

Silver was bid at $18.59 an ounce versus $18.49. Holdings of the world's main silver ETF rose 136 tonnes to a record 9,252 tonnes on Tuesday, while ETF Securities' silver exchange-traded product also hit record levels.

PLATINUM was at $1,464.50 an ounce against $1,444.50, while PALLADIUM was at $372 against $366.35. Holdings of ETF Securities' palladium-backed ETP rose to a record 620,359 ounces on Tuesday, and are up 11 per cent month-on-month.

++++++++++

Copper rises as greenback falls

LONDON - Copper rose on Wednesday, as the U.S. dollar fell to its lowest in more than a year against a major currency basket, but rising inventory levels reminded investors that OECD demand is still poor.

Copper for three-months delivery on the London Metal Exchange traded at $6,931 (U.S.) a tonne at 1032 GMT from a close of $6,870 on Tuesday.

++++++++++

Among other industrial metals,

Aluminum , used in transport and packaging, rose to $2,038 from $2,024.

Nickel was at $16,850 from $16,750

Zinc was at $2,262.50 from $2,236.

Lead was at $2,372 from $2,333.

Tin traded at $15,095 from $14,950

++++++++++

Oil rises above $76

Oil prices rose above $76 a barrel Wednesday as the dollar weakened and investors awaited data on the U.S. economy and crude inventories.


By early afternoon in Europe, benchmark crude for January delivery was up 39 cents to $76.41 in electronic trading on the New York Mercantile Exchange. The contract fell $1.54 to settle at $76.02 on Tuesday.

++++++++++

	24 Hour Base Metals

++++++++++

.

.