US gold futures ended 1.6 percent higher on Thursday, touching a two-week high as strong buying by exchange traded funds and safe-haven demand driven by ongoing unrest in Egypt triggered large buy orders. COMEX April gold futures settled up $20.9 or 1.6 percent at $1,353 an ounce on the COMEX division of the NYMEX. Ranged from $1,325.30 to $1,356.60 an ounce - a two-week high.
COMEX total gold futures volume at 180,000 lots, still 5 percent lower than its 30-day average, according to preliminary Reuters data. Spot gold rose 1.3 percent to $1,353.55 an ounce at 1:18 pm EST (1818 GMT), having earlier traded as low as $1,324.79. COMEX March silver ended up 43.9 cents or 1.6 percent at $28.728 an ounce on gold's coattails. Ranged from $27.96 to $28.855. Spot silver climbed 1.5 percent to $28.77 an ounce. NYMEX April platinum finished up $15.5 at $1,844.10 an ounce on broad-based metal gains. Spot platinum inched 0.2 percent higher to $1,833.99 an ounce. NYMEX March palladium closed up $10 or 1.2 percent at $820.55 an ounce, tracking platinum. Spot palladium gained 0.5 percent to $814.97.
Comments
Comments are closed for this article.