Message: U.S Gold soars to 14 month high as dollar tumbles - 5 min ago.
US gold soars to 14-month high as dollar tumbles
Wed Sep 16, 2009 11:48am EDT
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we're looking for. We're looking for solid evidence -- not just
stimulus -- the economy is recovering and this is really the
first piece of evidence that needs to fall into place." - Jack
Ablin, chief investment officer, Harris Private Bank, Chicago.
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| we're looking for. We're looking for solid evidence -- not just
stimulus -- the economy is recovering and this is really the
first piece of evidence that needs to fall into place." - Jack
Ablin, chief investment officer, Harris Private Bank, Chicago.
* Sales at U.S. retailers rose at their fastest pace in
3-1/2 years in August. [ID:nN14478930]
* U.S. producer prices rose more than twice as much as
expected in August. [ID:nN15543702]
* As economic activity picks up, fears of a pickup in
inflation at a time when the government's latitude to tighten
is hampered has some investors running to gold - analysts.
* Technicians are eyeing the $1,033.90 per ounce prior
record high on gold's continuation chart - analysts.
* Spot gold XAU= raced up to $1,016.45 an ounce from
$1,006.75 an ounce in late Tuesday trade in New York.
* London afternoon gold XAUFIX= was fixed higher at
$1,015.75 an ounce.
SILVER
* December silver SIZ9 surged 39.0 cents, or 2.29
percent, to $17.39 an ounce, gaining as a financial and
industrial metal on an improved economic outlook.
* Range extended to $17.4150, a 13-month peak, from a low
of 17.0350 an ounce.
* Spot silver XAG= up to $17.33 an ounce from $17.00 in
late Tuesday dealings.
* London silver XAGFIX= was fixed higher at $17.29 an
ounce.
PLATINUM
* October platinum PLV9 added $18.60 to $1,338.90 an
ounce.
* Spot platinum XPT= firmed with gold, jumping to
$1,331.0 an ounce from $1,324.50 an ounce late Monday.
PALLADIUM
* December palladium PAZ9 rose $3.70 to $299.95 an
ounce.
* Spot palladium XPD= was quoted at $295 an ounce, up
from $291.50 at Tuesday's finish.
Prices at 11:08 a.m. EDT (1508 GMT)
Last Change Pct 2008 YTD
Chg Close % Chg
US gold GCZ9 1017.80 11.50 1.1 884.30 15.1
US silver SIZ9 17.365 0.365 2.2 11.295 53.7
US platinum PLV9 1340.00 19.70 1.5 941.50 42.3
US palladium PAZ9 299.95 3.70 1.3 188.70 59.0
Gold XAU= 1015.85 9.95 1.0 878.200 15.7
Silver XAG= 17.31 0.34 2.0 11.30 53.2
Platinum XPT= 1333.50 10.50 0.8 924.50 44.2
Palladium XPD= 295.00 3.50 1.2 184.50 59.9
Gold Fix XAUFIX= 1015.75 19.75 2.0 836.50 21.4
Silver Fix XAGFIX= 17.290 0.770 4.7 14.760 17.1
Platinum Fix XPTFIX= 1339.00 na na 1529.00 -14.8
Palladium Fix XPDFIX= 298.00 na na 365.00 -20.7
(Reporting by Carole Vaporean; editing by Jim Marshall)
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