NEW YORK, Oct 6 (Reuters) - U.S. gold futures scaled anall-time high above $1,040 an ounce on Tuesday, gaining morethan 2 percent as a weakened U.S. currency prompted investorsto buy gold as a hedge against dollar-denominated portfolios.
For the latest detailed report, click on [GOL/].
GOLD
* Most-active December gold futures GCZ9 up $22.20, or2.2 percent, at $1,040 an ounce at 10:23 a.m. EDT (1423 GMT) onthe COMEX division of the New York Mercantile Exchange.
* Ranging from $1,016.60 to $1,043.20.
* The December contract fresh all-time high surpassed theprevious record for the active contract of $1,033.90 set inMarch 2008.
* Gold largely boosted as the dollar fell after an interestrate hike in Australia and rising equity prices bolsteredperceptions that the global economy was recovering, diminishingsafe-haven demand for the U.S. currency. [USD/]
* Gold's record high is another signal of the effect of theweak dollar - Mike Fitzpatrick, vice president at MF Global inNew York.
* Market chatters that the dollar's reserve currency statuscould be challenged fueled buying in gold - traders.
* A British newspaper reported that Gulf Arab states werein secret talks to abandon the U.S. currency in oil trade. Bigoil-producing countries denied the report. [ID:nSYD421795]
* "Certainly gold's rally to new highs is a reflection ofthe weak dollar and inflationary expectations - Tom Bentz,analyst at BNP Paribas Commodity Futures Inc in New York.
* Gold's rally gave the all-clear to buy commodities andoil based on the dollar weakness - Chris Jarvis, senior analystat Caprock Risk Management.
* Bullion holdings of the world's largest bullion-backedexchange-traded fund, New York's SPDR Gold Trust GLD, edgedup 1.525 tonnes, or 0.1 percent, to 1,098.073 tonnes as of Oct.5. [ID:nT111791] XAUEXT-NYS-TT
* Oil prices rose amid economic optimism. U.S. crude oilfutures CLc1 rose 2 percent, above $71 a barrel.
* Gold-to-oil ratio at 14.46, up from the previoussession's 14.41.
* COMEX estimated 10 a.m. volume at 115,178 lots.
* Spot gold XAU= was at $1,039.70 an ounce versus$1,016.65, the previous session's late New York quote.
* London afternoon gold fix XAUFIX= was at $1,038.80.
SILVER
* December silver SIZ9 up 77.5 cents, or 4.7 percent, at$17.310 an ounce, up with gold.
* Ranged from $16.625 to $17.335, a two-week high.
* COMEX estimated 10 a.m. volume at 23,595 lots.
* Spot silver XAG= was at $17.25, versus its previousfinish of 16.59 an ounce.
* London silver fix XAGFIX= at $16.95 an ounce.
PLATINUM
* January platinum PLF0 up $18.70, or 1.4 percent, at$1,320.50 an ounce on broad-based precious metals rally.
* Spot platinum XPT= was at $1,309, compared with itsprevious finish of $1,293.
PALLADIUM
* December palladium PAZ9 up $3.60 at $306.90 an ounce,up with platinum.
* Spot palladium XPD= was at $303, against its previousclose of $298.50.Prices at 10:26 a.m. EDT (1426 GMT)
Last Change Pct 2008 YTD
Chg Close % ChgUS gold GCZ9 1042.00 24.20 2.4 884.30 17.8US silver SIZ9 17.315 0.780 4.7 11.295 53.3US platinum PLF0 1320.50 18.70 1.4 941.50 40.3US palladium PAZ9 306.10 2.80 0.9 188.70 62.2Gold XAU= 1040.40 23.75 2.3 878.20 18.5Silver XAG= 17.25 0.66 4.0 11.30 52.7Platinum XPT= 1309.50 16.50 1.3 924.50 41.6Palladium XPD= 302.50 4.00 1.3 184.50 64.0Gold Fix XAUFIX= 1038.80 18.55 1.8 836.50 24.2Silver Fix XAGFIX= 16.95 72.00 4.4 14.76 14.8Platinum Fix XPTFIX= 1310.00 10.00 0.8 1529.00 -14.3Palladium Fix XPDFIX= 302.00 2.50 0.8 365.00 -17.3 (Reporting by Frank Tang; editing by Jim Marshall) Capital Gold Group, gold group, gold, gold prices, gold news, gold coins, gold bullion, gold IRA, IRA gold
