Gold hits record above $1,095/oz

LONDON - Gold hit record highs above $1,095 (U.S.) an ounce on Wednesday as U.S. dollar weakness added to momentum lent to the market by India's purchase of 200 tonnes of gold from the IMF to push prices through key technical resistance levels.

Gold is now poised to target the psychological $1,100 an ounce level, dealers said. Spot gold struck a high of $1,095.05 an ounce and was bid at $1,093.55 an ounce at 1055 GMT, against $1,084.50 late in New York on Tuesday.

U.S. gold futures on the COMEX division of the New York Mercantile Exchange also hit record highs at $1,096.20 an ounce.

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Among other precious metals.

Spot silver was bid at $17.45 an ounce against $17.20, tracking gold.

Platinum was at $1,359 an ounce against $1,355.50.

Palladium was the biggest percentage riser of the precious metals, up nearly 2 per cent at $331.50 against $324.50.

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Copper up on weak dollar, Fed verdict awaited

* Copper rebounds from near 2-week lows in previous session

* U.S. rate decision, jobs data may offer direction

* Weaker dollar, equities support but demand doubts linger


LONDON, Nov 4 (Reuters) - Copper rose 2.6 percent on
Wednesday as the dollar fell ahead of a policy decision by U.S.
Federal Reserve later in the day that is also expected to give
clues on the state of the world's largest economy.

By 1103 GMT, copper for three-month delivery on the
London Metal Exchange rose to $6,595 a tonne from $6,460 at the
close on Wednesday and compared with a session high at $6,625.

The red metal, used in power and construction, touched a
near two-week low at $6,372.25 on Tuesday on dollar strength.

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In other metals

Aluminium , used in transport and
packaging, rose $24 to $1,932 a tonne.

Nickel traded at $18,250 from$17,800

Lead was at $2,325 from$2,270.

Zinc traded at $2,228 a tonne from $2,180.

Tin was at $14,950 from $14,790.

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24 Hour Base Metals

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Gold & PGM Prices

Nov 4 2009 7:39AM NY Time dd Change Gold 1090.40 +0.56% Platinum 1363.00 +0.44% Palladium 330.00 +1.54% Rhodium 1800.00 +0.00%