US gold ends down on dollar rise, risk aversion

 NEW YORK, Oct 1 (Reuters) - Gold futures ended lower on
Thursday, holding just above $1,000 an ounce, as a resurgent
dollar in flight-to-quality trade dampened bullion's appeal as a
hedge against a falling U.S. currency.
 For the latest detailed report, click on [GOL/].
 GOLD
 * December gold futures GCZ9 settled down $8.60 at $1,000.70
an ounce on the COMEX division of the New York Mercantile
Exchange.
 * Ranged from $998.80 to $1,011.10 -- the highest price since
Sept. 24.
 * Gold futures were weighed down by a stronger dollar, after a
key U.S. manufacturing index for September came in lower than
expected. [USD/]
 * Open interest had been rising in the gold futures market in
September, and geopolitical problems made precious metals more
appealing to people who don't like uncertainties - George Gero,
vice president of RBC Capital Markets Global Futures.
 * The United States told Iran at the highest level talks in
three decades it must take concrete steps to prove it is not
seeking nuclear arms, and France demanded Tehran open a newly
declared site to U.N. inspectors within a few weeks.
 * If tensions continue to rise between Iran and the Western
world regarding Iran's nuclear program and oil prices remain firm
as a result, gold prices could also be supported - James Steel,
chief commodities analyst at HSBC.
 * Weak physical demand from key gold-consuming countries also
hurt buying sentiment.
 * Global recession and a high price this year have knocked
down demand for gold in Turkey, one of the top consumers of
bullion, which is now heading for the lowest ever recorded annual
import levels. [ID:nL1626956]
 * The world's largest gold-backed exchange-traded fund, the
SPDR Gold Trust (GLD), said its holdings stood at 1,095.327 tonnes
as of Sept. 30, up 1.22 tonnes from the previous business day.
XAUEXT-NYS-TT
 * Gold-to-oil ratio at 14.17, down from the previous session's
14.29.
 * COMEX estimated 1 p.m. volume at 104,540 lots.
 * Spot gold XAU= was at $1,001.05 at 2:35 p.m. EDT (1835
GMT) versus $1,006.70, which was the previous session's late New
York quote.
 * London afternoon gold fix XAUFIX= was at $1,004.75.
 SILVER
 * December silver SIZ9 ended down 21.8 cents, or 1.3
percent, at $16.440 an ounce on weak investment demand.
 * Ranged from $16.405 to $16.785.
 * COMEX estimated 1 p.m. volume at 29,081 lots.
 * Spot silver XAG= was at $16.45, versus its previous finish
of 16.59 an ounce.
 * London silver fix XAGFIX= at $16.55 an ounce.
 PLATINUM
 * January platinum PLF0 finished down $13.60 at $1,289.30 an
ounce, tracking gold's weakness.
 * Spot platinum XPT= was at $1,277.50, compared with its
previous finish of $1,295.50.
 PALLADIUM
 * December palladium PAZ9 closed down $6.25, or 2.1 percent,
at $292.95 an ounce, down with platinum.
 * Spot palladium XPD= was at $288, against its previous
close of $293.50.
                     Close  Change   Pct     2008    YTD
                                     Chg   Close   % Chg
US gold GCZ9 1000.70 -8.6 -0.9 884.3 13.2
US silver SIZ9 16.440 -0.218 -1.3 11.295 45.6
US platinum PLF0 1289.30 -13.60 -1.0 941.50 36.9
US palladium PAZ9 292.95 -6.25 -2.1 188.70 55.2
Prices at 2:35 p.m. EDT (1835 GMT)
Gold XAU= 1000.95 -5.75 -0.6 878.20 14.0
Silver XAG= 16.46 -0.13 -0.8 11.30 45.7
Platinum XPT= 1277.50 -18.00 -1.4 924.50 38.2
Palladium XPD= 288.00 -5.500 -1.9 184.50 56.1
Gold Fix XAUFIX= 1004.75 -1.00 -0.1 836.50 20.1
Silver Fix XAGFIX= 16.55 10.00 0.6 14.76 12.1
Platinum Fix XPTFIX= 1292.00 2.00 0.2 1529 -15.5
Palladium FixXPDFIX= 293.00 2.00 0.7 365.0 -19.7
(Reporting by Frank Tang; editing by Jim Marshall)






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