* Cash gold near record, $1,300 seen elusive
* Technicals point downward []
* Coming Up; U.S. Chicago Fed index Aug; 1230 GMT
(Updates prices, adds quotes)
By Lewa Pardomuan
SINGAPORE, Sept 27 (Reuters) - Gold ticked higher near a
lifetime high on Monday and could make another attempt to break
$1,300 an ounce as worries about the global economy linger,
while silver rose to a 30-year high on rising investment
demand.
Silver, often considered the poor man's gold, has gained
nearly 30 percent this year, attracting interest as a cheaper
alternative. Platinum and palladium tracked shares higher.
Spot gold <XAU=> added 80 cents to $1,296.40 an ounce by
0303 GMT after hitting a record at $1,299.95 on Friday on a
weaker dollar and economic uncertainty after the Federal
Reserve raised expectations of new measures to stimulate
growth.
For a 24-hour technical outlook on gold, see:
http://graphics.thomsonreuters.com/WT/20102709102113.jpg
"I think gold actually will make a second attempt to breach
this $1,300 level. This level is really a key technical and
psychological barrier for gold that will be cautiously watched
by gold investors," said Ong Yi Ling, investment analyst at
Phillip Futures in Singapore.
"With gold at record high prices, investors are
rediscovering silver also as a safe haven. For me, in order for
silver to continue to rally, gold prices have to actually hold
firm."
U.S. gold futures for December delivery <GCZ0> was hardly
changed at $1,297.8 an ounce, having struck an all time high at
$1,301.60 on Friday.
The dollar hovered near five-month lows on the euro on
Monday after falling sharply last week on
stronger-than-expected data in Europe and speculation the Fed
may yet turn to more quantitative easing to support the
economy. []
Thinly-traded silver <XAG=> jumped to its highest in 30
years at $21.48 an ounce.
The world's largest silver-backed exchange-traded fund, the
iShares Silver Trust <SLV>, said its holdings rose to a record
high at 9,613.02 tonnes by Sept 24 from 9,582.59 tonnes on Sept
23. []
Silver's main sources of demand are for use in industrial
applications such as semi-conductors and jewellery.
"Investors are keen to buy and there's a bit of industrial
demand for silver," said a dealer in Hong Kong.
The world's largest gold-backed exchange-traded fund, SPDR
Gold Trust <GLD.P>, said its holdings fell to 1,300.521 tonnes
by Sept 24 from 1,301.433 tonnes on Sept 23.The holdings hit a
record at 1,320.436 tonnes on June 29. []
Japan's Nikkei average rose 1.4 percent on Monday, buoyed
by exporters after Wall Street jumped on a rebound in U.S.
business spending, but gains were capped by the yen's strength.
Oil climbed to near $77 on Monday, the highest level since
mid-September, extending last week's rally as energy and
commodities regain the favour of investors with a weaker dollar
and resurfacing risk appetite. Precious metals prices at 0303
GMT
Metal Last Change Pct chg YTD pct chg
Turnover
Spot Gold 1296.40 0.80 +0.06 18.32
Spot Silver 21.42 0.01 +0.05 27.27
Spot Platinum 1639.00 1.30 +0.08 11.72
Spot Palladium 558.00 1.30 +0.23 37.61
TOCOM Gold 3519.00 -13.00 -0.37 7.98
21850
TOCOM Platinum 4459.00 -24.00 -0.54 1.78
6117
TOCOM Silver 58.30 0.40 +0.69 12.77
709
TOCOM Palladium 1510.00 -2.00 -0.13 29.61
166
Euro/Dollar 1.3467
Dollar/Yen 84.20
TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Editing by Ed Lane)
(lewa.pardomuan@thomson reuters.com; +65 6870 3834; Reuters
Messaging: lewa.pardomuan.reuters.com@reuters.net))
