US bullion ends reduce on mercantile uncertainties

Wed Feb 24, 2010 4:18pm EST Related News US gold falls toward $1,100 as risk appetite downTue, Feb 23 2010US gold drops on weak euro; technical support seenTue, Feb 23 2010US gold ends lower on monetary tightening worriesMon, Feb 22 2010U.S. gold retreats as monetary tightening weighsMon, Feb 22 2010US gold down as investors drop bullion for dollarsFri, Feb 19 2010

NEW YORK, Feb 24 (Reuters) - U.S. gold futures ended lower fora second straight day on Wednesday, settling below $1,100 an ounceafter a sharp fall in U.S. new home sales fed concerns amongbullion investors. * For the latest detailed report, click on [GOL/]. GOLD * COMEX April GCJ0 settles down $6 at $1,097.20 an ounce. * Ranged from $1,090.20 to $1,108.80. * Failed euro rallies prompt skittish gold investors to fleeinto the dollar - Frank McGhee at Integrated Brokerage ServicesLLC. * Gold weakened as dollar cut losses after report showed U.S.new home sales dropped to record low in January. [ID:nN24373288] * Follow-through selling due to uncertainty amid Bernanke"scongressional testimony, options-related selling - traders. * Support seen in $1,098 to $1,094 area -- downward trend lineconnecting the record high, January and February peaks, as well as20-day moving average - technical analyst. * Comex estimated final volume at 163,101 contracts. * Spot gold XAU= at $1,096.95 at 3:47 p.m. EST (2047 GMT),compared with $1,102.95 late in New York in the previous session. * London gold afternoon fix XAUFIX= at $1,103. SILVER * March SIH0 ends up 5.20 cents at $15.940 an ounce asinvestors buy at bargain prices after Tuesday"s decline. * Range $15.620 to $15.985. * Spot silver XAG= at $15.89 an ounce compared with theprevious session"s $15.82 late quote in New York. * Comex estimated final volume at 69,068 contracts. * London silver XAGFIX= fix at $15.76 an ounce. PLATINUM * April PLJ0 finishes down $3 at $1,507.30 an ounce asindustrial metals erase losses. * Spot platinum XPT= at $1,503.50 an ounce. PALLADIUM * March palladium PAH0 closes down $11.30, 2.6 percent, at$422.70 an ounce, as troubles from Toyota Motors dent sentiment onautocatalyst demand. * Spot palladium XPD= at $420.50 an ounce. Close Change Pct 2009 YTD Chg Close % ChgUS gold GCJ0 1097.20 -6 -0.5 1096.20 0.1US silver SIH0 15.940 0.052 0.3 16.845 -5.4US platinum PLJ0 1507.30 -3.00 -0.2 1471.00 2.5US palladium PAH0 422.70 -11.30 -2.6 408.85 3.4Prices at 3:54 p.m. EST (2054 GMT)Gold XAU= 1096.05 -6.90 -0.6 1096.35 0.0Silver XAG= 15.88 0.06 0.4 16.84 -5.7Platinum XPT= 1506.00 -4.00 -0.3 1465.50 2.8Palladium XPD= 420.50 -8.000 -1.9 405.50 3.7Gold Fix XAUFIX= 1103.00 10.00 0.9 1104 -0.1Silver Fix XAGFIX= 15.76 -34.00 -2.1 16.99 -7.2Platinum Fix XPTFIX= 1504.00 7.00 0.5 1466 2.6Palladium FixXPDFIX= 427.00 2.00 0.5 402 6.2 (Reporting by Frank Tang; Editing by Lisa Shumaker and JimMarshall)

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