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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Box-By-The-Riviera™ who wrote (80056)	12/18/2001 4:40:46 PM
From: long-gone	Respond to of 116762

December 18, 12:16 pm Eastern Time Tight NY silver, copper up at noon, gold near $280 NEW YORK, Dec 18 (Reuters) - The following are New York midday prices and market updates for precious metals and copper: SILVER March silver <0#SI:> up 3.0 cents at $4.395 an ounce at 1126 EST. Range so far $4.355-$4.405. Dealers say looks like a player squeezing market, with one-month lease rates still extremely tight near 11 percent and forwards in backwardation. Spot fetched $4.44/47, up from the previous close at $4.40/42. The London fix was at $4.44. Estimated turnover a light 5,500 lots at 11 EST. Open interest down 1,132 on Monday. ADVERTISEMENT GOLD COMEX February gold <0#GC:> up $1.70 at $280, moves from $278.10 to $280.20. Gold probing resistance at $280, helped by steady euro versus dollar and low U.S. interest rates. Book squaring before year end also a prop. Spot bullion was at $279.60/0.10, up from its last close of $277.80/8.30. London's late fix was $278.85. COMEX volume at 1100 estimated at 10,000 contracts. Open interest up 836 contracts Monday. PLATINUM GROUP METALS NYMEX March palladium <0#PA:> down $11 at $397 an ounce. Spot was at $400/410. January platinum <0#PL:> down $5.60 at $462 an ounce. Spot was $457/462. Dealers said news that Russian Deputy Finance Minister Valery Rudakov said Russia's platinum group metals producers may receive 2002 export quotas and Norilsk Nickel may obtain a five-year platinum export quota in two weeks' time may have pressured prices. But market remains skeptical that Russia will deliver on time until it actually sees the metal. COPPER COMEX March copper <0#HG:> extended its early gains into midday and traded 0.80 cent higher at 69.0 cents a lb. The range ran 68.10-69.30. Volume picked up too. COMEX estimated 6,000 copper contracts changed hands by noon. Copper was following London prices up. LME three-months copper also reached up to the day's high at $1,505 a tonne. It moved back to $1,493 a tonne where it held steady around the New York midsession. London's low was $1,484, down $4 from the prior even close. Traders said they expect copper to continue trading in a consolidation range. But the rally on Monday, as soon as the double bottom was set at $1,465, signaled an upward bias to the sideways pattern, they said. biz.yahoo.com