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Commodity News
Jul 21 2008 6:07AM
Gold bounces on oil, platinum near 11-week trough
    SINGAPORE, July 21 (Reuters) - Gold bounced on bargain 
hunting and firmer oil on Monday after falling to its lowest 
level in a week last week, while platinum held near its weakest 
in more two months on fears of falling demand. 
    -- Trading was slow with the absence of Japanese traders as 
Tokyo Commodity Futures were closed for a holiday. 
    -- Gold <XAU=> rose to $958.00/959.60 an ounce from 
$955.45/957.05 an ounce late in New York on Friday, when it fell 
as low as $949.50 as signs of stability in financial markets 
dimmed its safe-haven appeal. 
    -- Gold futures for August delivery <GCQ8> on the COMEX 
division of the New York Mercantile Exchange added $0.6 to 
$958.60 an ounce. 
    -- Oil rose more than $1 to top $130 a barrel on Monday after 
inconclusive talks between Iran and world powers on the weekend 
over Tehran's disputed nuclear programme. [O/R] 
    -- Spot platinum <XPT=> fell $1,840.00/1,860.00 an ounce from 
$1,846.50/1,866.50 an ounce late in New York. It struck an 
intraday low of $1,836.50 on Friday, its lowest level since May 
2. 
     -- Platinum has been hit by the gloomy outlook for the 
global economy that has deepened fears over demand from carmakers 
for autocatalysts, of which the white metal is a major component. 
    -- Spot palladium <XPD=> rose to $412.50/420.50 an ounce from 
$411.50/419.50 late in New York. 
    -- Silver <XAG=> edged up to $18.17/18.25 an ounce from 
$18.12/18.20 late in New York. 
  Precious metals prices at 0021 GMT 
 Metal             Last    Change  Pct chg  YTD pct chg  Turnover 
 Spot Gold         957.25    2.95   +0.31     14.96 
 Spot Silver        18.16    0.05   +0.28     22.95 
 Spot Platinum    1840.00   -2.50   -0.14     21.05 
 Spot Palladium    412.50   -0.50   -0.12     12.09 
 TOCOM Gold       3313.00   20.00   +0.61      8.27        54835 
 TOCOM Platinum   6301.00 -205.00   -3.15     18.02        41791 
 TOCOM Silver      641.20   -2.10   -0.33     18.52          846 
 TOCOM Palladium  1475.00  -22.00   -1.47      9.18         1501 
 Euro/Dollar       1.5844 
 Dollar/Yen        106.87 
 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 Jacqueline Wong) 
 (([email protected]; +65 6870 3834;  Reuters 
Messaging:[email protected])) 
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