RTRS: US gold stays flat despite global equity rout
NEW YORK June 29 (Reuters) - U.S. gold futures were
largely flat on Tuesday as the metal held firm due to
safe-haven buying during a global equity-market rout and
broad-based commodities decline on renewed economic fears.
* For the latest detailed report, click on [GOL/].
GOLD
* August COMEX gold futures GCQ0 up 20 cents at $1,238.80
an ounce at 11:18 a.m. EDT (1518 GMT).
* Ranged from $1,227.60 to $1,242.50.
* Bullion was largely flat but clearly supported in a
flight to safety as the S&P 500 index tumbles 2.5 percent and
as Reuters/Jefferies CRB index down 2.3 percent - traders.
* Fears of a potential liquidity shortfall of more than 100
billion euros in the financial system as European banks repay
442 billion euros ($545.5 billion) in emergency loans sparked
the latest sell-off in equity markets.
* Falling U.S. consumer confidence in June after rising for
three months sharply decreases risk appetite. [ID:nN29138077]
* Gold pressured by liquidation related to
position-squaring at the end of the second quarter - George
Gero at RBC.
* COMEX estimated 10 a.m. volume at 82,757 lots.
* Spot gold XAU= at $1,237.55 an ounce, against $1,236.05
late in the previous session.
* London gold fix XAUFIX= at $1,234.50 an ounce.
SILVER
* COMEX July silver SIN0 down 18.80 cents at $18.490 an
ounce, dragged lower by weak industrial metals.
* Ranged from $18.370 to $18.775.
* COMEX estimated 10 a.m. volume at 26,637 lots.
* Spot silver XAG= at $18.49 an ounce, against $18.68
late in the previous session.
* London silver fix XAGFIX= was at $18.57 per ounce.
PLATINUM
* NYMEX July platinum PLN0 down $20.40, or 1.3 percent,
at $1,545.20 an ounce as broad-based metal decline put a damper
on the industrial metal mostly consumed by the auto industry.
* The platinum market will see a narrower market surplus in
2010 on the back of strong investment interest during the
launch of U.S. platinum-backed exchange traded funds and a
recovering auto industry - CPM Group. [ID:nN29135557]
* Spot platinum XPT= at $1,540.50 an ounce.
PALLADIUM
* September palladium PAU0 down $16.35, or 3.5 percent,
at $456.10 an ounce on platinum's coattails.
* Spot palladium XPD= was at $454.50.
Prices at 11:16 a.m. EDT (1516 GMT)
LAST NET PCT YTD
CHG CHG CHG
US gold GCQ0 1239.10 0.50 0.0% 13.0%
US silver SIN0 18.495 -0.183 -1.0% 9.8%
US platinum PLN0 1545.20 -20.40 -1.3% 5.0%
US palladium PAU0 456.10 -16.35 -3.5% 11.6%
Gold XAU= 1238.55 2.50 0.2% 13.0%
Silver XAG= 18.49 -0.19 -1.0% 9.8%
Platinum XPT= 1542.00 -23.00 -1.5% 5.2%
Palladium XPD= 454.50 -11.50 -2.5% 12.1%
Gold Fix XAUFIX= 1234.50 -1.50 -0.1% 11.8%
Silver Fix XAGFIX= 18.57 -54.00 -2.8% 9.3%
Platinum Fix XPTFIX= 1545.00 3.00 0.2% 5.4%
Palladium Fix XPDFIX= 463.00 3.00 0.7% 15.2%
(Reporting by Frank Tang; Editing by Lisa Shumaker)