Tuesday February 5, 12:35 pm Eastern Time
<font size=5>NY gold rushes toward post-Sept 11 high at noon</font>
NEW YORK, Feb 5 (Reuters) - The following are New York midday prices and market updates for precious metals and copper:
GOLD
<font color="#FF0000">COMEX April gold <0#GC:> at 1217 EST up $6.90 at $297, moves from $290 to $297, the highest since Sept 21, 2001, when the contract topped at $297.50 after the Sept 11 terror attacks</font>. Futures continue to rally on stock market worries about Enron fallout and hidden corporate accounting time bombs. <font color="#FF0000">Reduced hedging by producers still a big bullish factor</font>. <font color="#FF0000">Futures break above January high at $290.50, drawing in fresh buying. Volume a busy 26,000 contracts at 1100 EST. Open interest surged 5,057 lots in Monday's $3.30 rally. Spot bullion quoted at $295.90/6.40, up from $289.10/60 at the close</font>. The afternoon fix in London was at $291.95.
SILVER
March silver <0#SI:> follows gold up 8.5 cents to $4.38 an ounce, trading $4.295-$4.385. Noon volume a dull 7,000. Open interest down 220 contracts on Monday. Spot silver at $4.38/40, up from $4.29/31 at the close and $4.30 at the fix.
PLATINUM GROUP METALS
NYMEX April platinum <0#PL:> was up $1.70 at $453 an ounce. Spot was $452/459. March palladium <0#PA:> off $6.50 at $367.50 an ounce. Spot was at $360/370.
COPPER
COMEX copper <0#HG:> hovers in the high end of day's trading band, with March changing hands 0.40 cent higher at 73.25 cents a lb. The range ran 72.60 to 73.35 cents. COMEX volume remained a light 5,000 contracts at noon. Brokers said there had been little pick-up in action for most of the session. Traders expect consolidation to continue at the newly achieved higher trading zone. LME three-months copper was $1,593 a tonne, hanging around the prior evening close of $1,595 most of the day. Traders see $1,600 as the consolidation point. The range ran $1,585 to $1,602.
Quelle: http://biz.yahoo.com/rf/020205/n05447100_1.html[/b]
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