March 28, 2008 – 3:07 am
via ninemsn
SINGAPORE, March 28 (Reuters) - Gold dipped on Friday after the dollar rose on a government report showing the U.S. economy grew in line with market expectations in the fourth quarter, but surging oil could offer support.
— Gold eased to $948.80/949.60 an ounce from $951.80/952.60 an ounce late in New York. Gold jumped to a 1-week high at $954.50 an ounce on Thursday before a rebounding dollar erased some of the gains.
– Gold futures for April delivery on the COMEX division of the New York Mercantile Exchange added $0.8 an ounce to $949.6 an ounce and off last week’s record of $1,033.90.
– The dollar rose on Thursday, snapping a two-day losing streak, on views liquidity conditions for banks were not as dire as initially thought after a tepid Federal Reserve auction to swap poor-performing investments. [ID:nN27399275]
– Oil rose sharply on Thursday after a bomb attack on a major Iraqi crude pipeline slashed exports from the country’s southern oil port for the first time in years. [ID:nSYD150225]
– Spot platinum rose to $2,025/2,035 an ounce from $2,023/2,033 an ounce.
– The most active Tokyo platinum futures <0#JPL:> rose 69 yen per gram to 6,354 yen to track a firm cash market.
– Silver eased to $18.48/18.53 an ounce from $18.50/18.55 an ounce.
– Spot palladium rose to $446/451 an ounce from $445/450 an ounce in New York. Precious metals prices at 0021 GMT Metal Last Change Pct chg YTD pct chg Turnover Spot Gold 948.80 1.40 +0.15 13.94 Spot Silver 18.48 0.07 +0.38 25.12 Spot Platinum 2025.00 2.00 +0.10 33.22 Spot Palladium 446.00 1.00 +0.22 21.20 TOCOM Gold 3060.00 2.00 +0.07 0.00 2662 TOCOM Platinum 6362.00 77.00 +1.23 19.16 2590 TOCOM Silver 595.70 8.80 +1.50 10.11 121 TOCOM Palladium 1476.00 -8.00 -0.54 9.25 317 Euro/Dollar 1.5800 Dollar/Yen 99.49 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 Michael Urquhart)
