2226 GMT [Dow Jones] COMMODITY SUMMARY: Spot gold continues to charge higher, hits new 7-month high of $987.25/oz on conintued safe haven flows, worries about protracted bearish economic outlook. Obama administration unveils U.S. government's most aggressive attempt yet to deal with the foreclosure crisis, pledges billions of dollars in new programs to help 7 million to 9 million borrowers. Total cost not immediately clear, but could cost more than $275 billion. U.S. Federal Reserve Chairman Ben Bernanke also weighs in, pledges Fed will do 'everything possible within the limits of its authority' to restore stable markets and get the U.S. out of recession. But market reaction muted, DJIA little changed. 'The market wants answers and it's not getting them,' says Bill O'Neill, principal with LOGIC Advisors. Spot gold pares some gain, trading at $981.95, down $1.55 vs NY close; silver at $14.30, down 4 cents; platinum at $1,098.50, down 50 cents; palladium at $217, down $1. Base metals mixed, end off lows after dull session. 'I think prices will stagnate during the first quarter,' says Standard Bank analyst Leon Westgate. 'The metals are waiting for the impact of these stimulus packages to bear fruit.' LME 3-month copper closes up $50 vs PM kerb at $3,235/ton, aluminum down $6 at $1,336, lead down $42 at $1,067, zinc up $11 at $1,120, nickel down $200 at $9,700, tin down $50 at $10,750. Nymex March crude futures down 31 cents at $34.62/bbl. (EFB) Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com
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