US gold futures rise as dollar drops

U.S. gold futures rose in quiet trade on Monday as a weaker dollar boosted bullion's
appeal as an alternative currency against a steadily falling greenback.

For the latest detailed report, click on [GOL/].

GOLD

* December gold futures GCZ9 up $1.90 at $1,053.40 an
ounce at 10:35 a.m. EDT (1435 GMT) in COMEX trade.

* Range from $1,048.60 to $1,057.80. December scaled a
record high $1,072 on Oct. 14.

* Dollar remains near recent lows on expectations that U.S.
interest rates will stay near zero.

* Gold's recent movements largely led by currency markets
rather than inflation.

* Any news to weaken dollar's reserve currency status would
be positive for gold - HSBC.

* Gold rise boosted by oil, which climbed above $79 per
barrel.

* Gold-to-oil ratio below 14 at 13.35, down tad from
previous session's 13.40.

* Pullback possible as noncommercial net longs hit record
high in week up to Oct. 13 - CFTC data.

* COMEX estimated 10 a.m. volume at 37,556 lots.

* Spot gold XAU= at $1,053.40 an ounce, against $1,050.80
late in New York in the previous session.

* London afternoon gold fix XAUFIX= $1,050.50.

Gold Futures