960411

HK gold

HONG KONG: Hong Kong bullion ended at US$395.20/395.70 an ounce on Thursday against New York's Wednesday close of $394.70/395.00, as local sentiment climbed on strong U.S. commodity prices, local bullion dealers said.

Local gold ended HK$6 higher at HK$3,640 a tael.

Traders said gold was being helped up by strong worldwide commodity prices that were being dragged along by historically high corn prices as well as an expensive energy sector.

Sales on Hong Kong's physical gold markets were moderate, industry sources said, noting that people tended to buy physical gold when prices fell below $393 an ounce.

"Physical gold buyers are very sensitive to price levels," one dealer said. "People are still buying, but sales are quite moderate due to the price consolidation at the $393-398 level."-Reuter