* Cash gold near record, silver at 30-year high
* Technicals point downward []
* Coming Up; U.S. Chicago Fed index Aug; 1230 GMT
(Updates prices)
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 $2.88 to $1,298.48 an ounce by 0530
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, adding that a breach of the level
would help silver.
"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> rose $2.2 an
ounce to $1,300.3 an ounce, within sight of an all time high at
$1,301.60 hit on Friday.
Thinly-traded silver <XAG=> jumped to its highest in three
decades at $21.56 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 dollar edged up from five-month lows versus 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. []
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 was steady on Monday, trading close to a two-week high
near $77 reached earlier, as energy and commodities regained
the favour of investors with a weaker dollar and resurfacing
risk appetite. []
Precious metals prices at 0530 GMT
Metal Last Change Pct chg YTD pct chg
Turnover
Spot Gold 1298.48 2.88 +0.22 18.51
Spot Silver 21.56 0.15 +0.70 28.10
Spot Platinum 1638.00 0.30 +0.02 11.66
Spot Palladium 556.30 -0.40 -0.07 37.19
TOCOM Gold 3528.00 -4.00 -0.11 8.25
25345
TOCOM Platinum 4468.00 -15.00 -0.33 1.99
8516
TOCOM Silver 58.70 0.80 +1.38 13.54
882
TOCOM Palladium 1518.00 6.00 +0.40 30.30
274
Euro/Dollar 1.3470
Dollar/Yen 84.25
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))
