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Message: Daily - COMMODITIES - Market & Metal News - Charts

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Daily - COMMODITIES - Market & Metal News - Charts

posted on Nov 03, 09 11:13AM

US gold rises above $1,060/oz as dollar slides

NEW YORK, Nov 2 (Reuters) - U.S. gold futures rallied above
$1,060 an ounce on Monday, trading at their highest level in
more than a week as the dollar tumbled against the euro on
strong U.S. economic indicators.

* December gold up $21.50, or 2.1 percent, at
$1,061.90 an ounce at 10:13 a.m. EST (1513 GMT) on the COMEX
division of NYMEX.

* Ranged from $1,042.20 to $1,063.40 -- highest since Oct.
23. December scaled a record high $1,072 on Oct. 14.

* Gold extends gains on weak dollar after a flurry of
optimistic U.S. manufacturing activity and home sales reports.

* Dollar slides nearly 1 pct versus the euro based on
economic optimism, boosting gold and equities.

* Technical analysts pegged gold's near-term support at
$1,025 to $1,026.

++++++++++

SILVER

* December silver up 44.50 cents, or 2.7 percent, at
$16.70 an ounce, rising with gold.

* Ranged from $16.275 to $16.735.

* Spot silver was at $16.68 versus $16.27 in the
previous session in New York.

* London silver fix at $16.58.

PLATINUM

* January platinum up $12.90 at $1,339.20 an ounce
on broad-based economic optimism.

* Spot platinum was at $1,334.50, compared with late
previous session quote of $1,322.50 in New York.

PALLADIUM

* December palladium up $3.75, or 1.2 percent, at
$327 on ounce, tracking platinum.

* Spot palladium was at $323, compared with the
previous session's close at $318.50.
Prices at 10:15 a.m. EST (1515 GMT)

++++++++++

Oil prices rise to near $78

Oil prices recovered to near $78 (U.S.) a barrel Monday as a weaker dollar and strong economic data in China raised hopes for an increase in energy demand.

By early afternoon in Europe, benchmark crude for December delivery was up 63 cents to $77.63 a barrel in electronic trading on the New York Mercantile Exchange.

The contract fell $2.87 to settle at $77.00 on Friday as the U.S. dollar gained and stock markets dropped on news U.S. consumer spending and confidence had fallen in September.

++++++++++