SINGAPORE, Sept 28 Gold firmed on a weaker U.S. dollar on Friday but may be showing signs

By Staff
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Google Oneindia News

SINGAPORE, Sept 28 (Reuters) Gold firmed on a weaker U.S. dollar on Friday but may be showing signs of fatigue after last week's rally to a 28-year high, while platinum held near its highest in 10 months on expectations of rising demand.

-- Spot gold rose to $735.80/736.50 an ounce from $733.80/734.60 late in New York Thursday, when it gained nearly $6 on a record-low U.S. dollar against the euro and firmer oil prices.

-- Gold reached its best level since January 1980 at $739 on Sept. 21, but attempts to recapture that level were met by heavy profit taking. Key resistance was pegged at $740 while support levels were seen at $728 and $726.

-- Platinum was steady at $1,356/1,361 an ounce, having reached a 10-month high of $1,360.50 on Thursday on speculative buying.

-- Benchmark August 2008 gold futures on the Tokyo Commodity Exchange rose 26 yen to 2,763 yen per gram to reflect gains in COMEX.

-- The most-active December gold contract on the COMEX division of the New York Mercantile Exchange rose $3.1 an ounce to $743.0 in electronic trade.

-- The euro was steady at $1.4152 -- within sight of Thursday's record high of $1.4189.

-- Silver edged up to $13.54/13.59 an ounce from $13.50/13.55 late in New York.

-- Palladium rose to $342/347 an ounce from $341/345 late in New York.

Precious metals prices at 0049 GMT Metal Last Change Pct chg YTD pct chg Turnover Spot Gold 736.00 1.90 +0.26 15.78 Spot Silver 13.54 0.02 +0.15 5.37 Spot Platinum 1356.00 0.00 +0.00 19.79 Spot Palladium 342.00 1.00 +0.29 3.01 TOCOM Gold 2763.00 26.00 +0.95 13.01 22838 TOCOM Platinum 5008.00 55.00 +1.11 17.72 12224 TOCOM Silver 506.40 4.40 +0.88 2.66 434 TOCOM Palladium 1299.00 22.00 +1.72 3.51 243 Euro/Dollar 1.4153 Dollar/Yen 115.49 TOCOM prices in yen per gram, except TOCOM silver which is priced in yen per 10 grams. Spot prices in $ per ounce.

Reuters KK VP0658

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