Fri Aug 21, 2009 7:34pm BST NEW YORK, Aug 21 (Reuters) - Gold futures rose toward $960an ounce on Friday, gaining more than 1 percent as the dollarslumped against the euro, boosting the metal's appeal as ahedge 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 YorkMercantile Exchange.
* Ranged from $939.20 to $959.90 -- the highest price sinceAug. 14.
* Gold accelerated gains after COMEX pit open as the dollarslumped to a two-week low against the euro on the back ofoptimistic services-sector data in the euro zone. [FRX/]
* The inverse relationship between gold and the dollar hasbeen reasserting itself. Earlier this year, the traditionallink broke down because both assets benefited from a flight tosafety amid economic fears - analysts.
* Investors sold U.S. dollar holdings to buy gold and crudeoil, and the December contract looked set to break out and testthe next significant resistance level at $975 an ounce - GeorgeGero, vice president of RBC Capital Markets Global Futures.
* Gold jumped above $950 an ounce ahead of option expirynext week - Jon Nadler, senior analyst at bullion dealer KitcoMetals Inc.
* Earlier in the session, oil rallied to just below $75 abarrel. Gold is generally viewed as a hedge against oil-ledinflation.
* Gold/oil ratio at 12.90, down slightly from the previoussession'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 NewYork.
* London afternoon gold fix XAUFIX= at $952.50 an ounce. Capital Gold Group, gold group, gold, gold prices, gold news, gold coins, gold bullion, gold IRA, IRA gold
