Thursday, January 07, 2010 5:11:14 PM
Thu Jan 7, 2010 11:20am EST
NEW YORK, Jan 7 (Reuters) - U.S. gold futures dropped on
Thursday, as a sharp bounce in the dollar prompted profit
taking, while platinum group metals rose ahead of the launch of
the first U.S. exchange-traded funds.
For the latest detailed report, click on [GOL/].
GOLD
* Gold for February delivery GCG0 down $3.90 at $1,132.60
an ounce at 11:02 a.m. EST (1602 GMT) on the COMEX division of
the New York Mercantile Exchange.
* Range from $1,128.70 to $1,139.50.
* Gold retreated from a three-week high in the previous
session as the dollar strengthened against the euro. [USD/]
* Pressure seen after gold failed to breach key overhead
resistance near $1,143, near-term support at the $1,130 area -
Jon Nadler, senior analyst at Kitco Metals.
* Gold/oil ratio at 13.63, against previous session's
13.68.
* COMEX estimated 10 a.m. volume at 77,900 lots.
* Spot gold XAU= at $1,131.95, against the previous
session's late quote of $1,137.90.
* London afternoon gold fix XAUFIX= at $1,130.25.
SILVER
* March silver SIH0 up 17 cents at $18.345 an ounce on
strong investment demand.
* Range from $18.055 to $18.420 -- a four-week high.
* COMEX estimated 10 a.m. volume at 15,128 lots.
* Spot silver XAG= at $18.30 an ounce, versus the
previous session's late quote at $18.18 an ounce.
* London silver fix XAGFIX= at $18.09.
PLATINUM
* NYMEX April platinum PLJ0 up $2.30 at $1,560.70 an
ounce, driven by optimism ahead of the launch of the first U.S.
platinum and palladium exchange-traded funds.
* ETF Securities Ltd's first U.S. platinum and palladium
ETFs will start trading on Friday, which is expected to attract
a rush of investment dollars into a highly liquid U.S. precious
metals market. [ID:nN07368852]
* Spot platinum XPT= was at $1,550 an ounce.
PALLADIUM
* March palladium PAH0 up 60 cents at $427.80 an ounce
on the ETF news.
* Spot palladium XPD= was at $424.50 an ounce.
(Reporting by Frank Tang; Editing by Walter Bagley)
http://www.reuters.com/article/usDollarRpt/idUSN0739878520100107
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