NEW YORK, Aug 21 (Reuters) - Gold futures rose toward $960
an ounce on Friday, gaining more than 1 percent as the dollar
slumped against the euro, boosting the metal's appeal as a
hedge against the falling U.S. currency.
For the latest detailed report, click on [GOL/].
GOLD
* December gold GCZ9 settled up $13, or 1.4 percent, at
$954.70 an ounce on the COMEX division of the New York
Mercantile Exchange.
* Ranged from $939.20 to $959.90 -- the highest price since
Aug. 14.
* Gold accelerated gains after COMEX pit open as the dollar
slumped to a two-week low against the euro on the back of
optimistic services-sector data in the euro zone. [FRX/]
* The inverse relationship between gold and the dollar has
been reasserting itself. Earlier this year, the traditional
link broke down because both assets benefited from a flight to
safety amid economic fears - analysts.
* Investors sold U.S. dollar holdings to buy gold and crude
oil, and the December contract looked set to break out and test
the next significant resistance level at $975 an ounce - George
Gero, vice president of RBC Capital Markets Global Futures.
* Gold jumped above $950 an ounce ahead of option expiry
next week - Jon Nadler, senior analyst at bullion dealer Kitco
Metals Inc.
* Earlier in the session, oil rallied to just below $75 a
barrel. Gold is generally viewed as a hedge against oil-led
inflation.
* Gold/oil ratio at 12.90, down slightly from the previous
session's 12.92.
* COMEX estimated 1 p.m. gold volume at 82,044 lots.
* Spot gold XAU= at $952.95 an ounce at 2:15 p.m. EDT
(1815 GMT), against $939.35 in late Thursday dealings in New
York.
* London afternoon gold fix XAUFIX= at $952.50 an ounce.
SILVER
* September silver SIU9 finished up 28.4 cents, or 2.1
percent, at $14.164 an ounce as investors bought the volatile
metal on the back of gold's rally. Silver has the
characteristics of both precious and industrial metals.
* Ranged from $13.710 to $14.290 an ounce.
* COMEX estimated 1 p.m. silver volume at 27,424 lots.
* Spot silver XAG= at $14.15 an ounce, versus $13.89 an
ounce in Thursday's late business.
* London silver fixed XAGFIX= at $14.010 an ounce.
PLATINUM
* October platinum PLV9 ended up $17.20, or 1.4 percent,
at $1,259.20 an ounce as a better performance on Wall Street
prompted buying. Platinum is mainly used by the car industry as
a key component in catalytic converters.
* Spot platinum XPT= at $1,249.50 an ounce against
$1,236.50.
PALLADIUM
* September palladium PAU9 closed up $9.70, or 3.5
percent, at $284.95 an ounce, following platinum's gains.
* Spot palladium XPD= at $279 an ounce, against its
previous finish of $272.
Close Change Pct 2008 YTD
Chg Close Pct Chg
US gold GCZ9 954.70 13.00 1.4 884.30 8.0
US silver SIU9 14.164 0.284 2.0 11.295 25.4
US platinum PLV9 1259.20 17.20 1.4 941.50 33.7
US palladium PAU9 284.95 9.70 3.5 188.70 51.0
Prices at 2:15 p.m. EDT (1815 GMT)
Gold XAU= 953.05 13.70 1.5 878.200 8.5
Silver XAG= 14.15 0.26 1.9 11.30 25.2
Platinum XPT= 1250.00 13.50 1.1 924.50 35.2
Palladium XPD= 279.00 7.00 2.6 184.50 51.2
Gold Fix XAUFIX= 952.50 12.00 1.3 836.50 13.9
Silver Fix XAGFIX= 14.010 -0.030 -0.2 14.760 -5.1
Platinum Fix XPTFIX= 1239.00 0.00 0.0 1529.00 -19.0
Palladium Fix XPDFIX= 275.00 0.00 0.0 365.00 -24.7
(Reporting by Frank Tang; Editing by Marguerita Choy)
