Thursday, May 01, 2008
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Commodity News
May 1 2008 6:11AM
Gold rises 1 percent after Fed cuts rates
    SINGAPORE, May 1 (Reuters) - Gold jumped more than 1 percent 
on Thursday after the U.S. Federal Reserve cut interest rates, as 
expected, and hinted the move could be the last in a series to 
buffer the economy. 
    -- Gold <XAU=> rose to $876.60/877.60 an ounce from 
$864.65/866.05 an ounce late in New York on Wednesday, when it 
had dropped to a three-month low of $862.30 an ounce. 
    -- The Fed, however, kept open its options, leaving investors 
guessing that rates could still move lower. 
    -- The dollar fell against the euro on Wednesday after the 
rate cut. 
    -- Gold futures for June delivery <GCM8> on the COMEX 
division of the New York Mercantile Exchange rose $13.5 an ounce 
to $878.6 an ounce. 
    -- Spot platinum <XPT=> rose to $1,917.50/1,937.50 an ounce 
from $1,906/1,921 late in New York. 
    -- Most active Tokyo April platinum futures <0#JPL:> added 29 
yen per gram to 6,259 yen. 
    -- Silver <XAG=> edged up to $16.86/16.92 an ounce from 
$16.60/15.65 an ounce. 
    -- Spot palladium <XPD=> rose to $417.50/425.50 an ounce from 
$410.50/418.50 late in New York. 
  Precious metals prices at 0020 GMT 
 Metal             Last    Change  Pct chg  YTD pct chg  Turnover 
 Spot Gold         876.25    2.75   +0.31      5.23 
 Spot Silver        16.87    0.02   +0.12     14.22 
 Spot Platinum    1917.50    0.00   +0.00     26.15 
 Spot Palladium    417.50    0.00   +0.00     13.45 
 TOCOM Gold       2953.00   26.00   +0.89     -3.50         5488 
 TOCOM Platinum   6235.00    5.00   +0.08     16.78         2012 
 TOCOM Silver      568.50   13.00   +2.34      5.08          261 
 TOCOM Palladium  1426.00  -11.00   -0.77      5.55          402 
 Euro/Dollar       1.5630 
 Dollar/Yen        103.77 
 TOCOM prices in yen per gram, except TOCOM silver which is 
priced in yen per 10 grams. Spot prices in $ per ounce. 
 (Reporting by Lewa Pardomuan; Editing by Ben Tan) 
 (([email protected]; +65 6870 3834;  Reuters 
Messaging:[email protected])) 
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     Reuters Terminal users can see related news and prices by 
double clicking on the codes in brackets: 
 - All precious metals headlines [GOL] 
 - Precious metals market reports [GOL/] 
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 - Technical analysis [PREC/I] 
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 - European gold prices <GOLD/EU1><GOLD/EU2><0#PREC> 
 - London interbank gold forward rates <GOFO> <0#GOFO=> 
 - London silver forwards <SIFO><SIFO=> 
 - Gold lease rates <LGLR><0#LGLR=> 
 - London Bullion Market Association <LBMA01> 
 - New York Comex gold <0#GC:> and silver <0#SI:> 
 - New York platinum <0#PL:> and palladium <0#PA:> 
 - Asian gold prices <GOLD/ASIA1><0#PREC> 
 - Australian precious metals prices <GOLD/ASIA2><0#AUPREC=> 
 - Shanghai Gold Exchange prices <SGE/MENU> 
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 - Japanese producer prices <JP/PROD1> 
 For Related News and other topics, double click on one of these 
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 SPEED GUIDES 
 <PRECIOUS1>         <PRECIOUS/FUT1> 
 <PRECIOUS/CASH1>    <PRECIOUS/SWAP1> 
 <PRECIOUS/VOL1>     <REUTERS> 
Keywords: MARKETS PRECIOUS 
  Source:   

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