US gold futures ended slightly higher on Monday after rising to within $10 of its record high, and silver and palladium hit multi-year peaks, driven by pent-up demand on the first trading day of 2011. Benchmark COMEX February gold futures settled up $1.50 at $1,422.90 an ounce on the COMEX division of the NYMEX. Ranged from $1,414.50 to $1,424.40 an ounce - highest since December 7.
COMEX gold volume at 71,000 lots, nearly 60 percent below its 30-day average, according to preliminary Reuters data. Spot gold slipped 0.2 percent to $1,416.50. COMEX March silver ended up 18.8 cents at $31.125 an ounce on gold's gains. Ranged between $30.620 and $31.275. COMEX estimated silver futures volume at 40,000 lots, almost 50 percent below its 30-day average, according to preliminary Reuters data.
Spot silver fell 0.3 percent to $30.74. NYMEX April platinum finished up $8.20 at 1,786.40 an ounce as Wall Street rally helped metals with strong industrial demand such as platinum group metals. In the United States, December is expected to be the third straight month of strong auto sales, capping a year of gradual recovery for the sector. Spot platinum rose 0.1 percent to $1,770 an ounce. NYMEX March palladium closed down $2.90 at $800.40 an ounce. Spot palladium dropped 0.4 percent to $796.50 an ounce.
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