SINGAPORE, Nov 23 (Reuters) - Gold held steady above $800 an
ounce on Friday, in trade thinned by the absence of Japanese
investors, with the dollar's record-low against the euro offering
support.
-- Spot gold <XAU=> edged up to $803.20/804.00 an ounce from
$802.90/803.60 an ounce late in London. The U.S. markets were
closed on Thursday for Thanksgiving.
-- Dealers pegged immediate resistance at $805 an ounce,
while support was seen at $785. The metal was regaining strength
after a recent correction and within sight of a 28-year high of
$845.40 hit on Nov. 7.
-- All Japanese financial markets are clsoed on Friday for a
public holiday, Labour Thanksgiving Day.
-- The benchmark October 2008 gold futures <0#JAU:> on the
Tokyo Commodity Exchange rose 10 yen per gram, or 0.4 percent, to
finish at 2,846 yen on Thursday, after wavering between 2,814 yen
and 2,852 yen.
-- The dollar <AFX=> hit new record lows against the euro,
the Swiss franc and a basket of currencies on Thursday on growing
belief that the U.S. Federal Reserve will cut interest rates
again next month.
-- Expectations for further U.S. rate cuts were reinforced on
Tuesday by the Fed's projection that economic growth will slow
next year, even though the central bank adopted a reasonably
hawkish tone and said that October's cut was a "close call".
-- Silver <XAG=> edged up to $14.52/14.57 an ounce from
$14.51/14.56 late in London.
-- Platinum <XPT=> fell to $1,465/1,470 an ounce from
$1,466/1,471 an ounce.
-- Palladium <XPD=> rose to $348/353 an ounce from $347/352
an ounce.
-- The most-active December gold contract <GCZ7> on the COMEX
division of the New York Mercantile Exchange added $5.2 ounce to
$803.8 an ounce on electronic trade.
Precious metals prices at 0039 GMT
Metal Last Change Pct chg YTD pct chg Turnover
Spot Gold 803.20 -1.10 -0.14 26.35
Spot Silver 14.52 0.01 +0.07 13.00
Spot Platinum 1465.00 -1.00 -0.07 29.42
Spot Palladium 348.00 1.00 +0.29 4.82
TOCOM Gold 2846.00 10.00 +0.35 16.40 87289
TOCOM Platinum 4989.00 4.00 +0.08 17.28 28344
TOCOM Silver 512.20 -5.70 -1.10 3.83 1251
TOCOM Palladium 1264.00 -22.00 -1.71 0.72 536
Euro/Dollar 1.4853
Dollar/Yen 108.57
TOCOM prices in yen per gram, except TOCOM silver which is
priced in yen per 10 grams. Spot prices in $ per ounce.
(Reporting by Lewa Pardomuan; Editing by Valerie Lee )
(([email protected]; +65 6870 3834; Reuters
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