TOKYO, Oct 11 Gold inched up on Thursday, supported by firm oil prices, but lacked the dr

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TOKYO, Oct 11 (Reuters) Gold inched up on Thursday, supported by firm oil prices, but lacked the drive to breach key resistance levels, while Tokyo futures dipped.

-- By 0119 GMT, spot gold was trading at $741.70/742.30 an ounce, versus Wednesday's late New York level of $738.80/739.60, where it rose as high as $745.80. Traders noted strong resistance at $750-$760.

-- COMEX futures rose in Asia, with the most active December contract at $747.1 an ounce, up $1.1, or 0.2 percent, from the New York settlement.

-- NYMEX crude for November delivery rose 15 cents to $81.45 a barrel in Globex electronic trading, gaining for a third day and nearing its highest in two weeks.

-- The key August 2008 gold contract on the Tokyo Commodity Exchange <0JAU:> fell 5 yen or 0.2 percent to 2,817 yen per gram.

-- Germany's Budesbank told Reuters on Wednesday that it will hold on to the vast bulk of its gold reserves in the next 12 months, selling only enough bullion to mint coins.

[ID:nL10107458] -- In investment news, BlackRock fund manager Graham Birch, who manages $9.4 billion in gold equities, said he expects gold prices to gain further this year and a gently rising trend to be sustained in the long term, with demand from China playing a key role. [ID:nL10417836] -- Platinum was at $1,380/1,385 an ounce compared to $1,381/1,388 in New York.

-- Palladium edged down to $371/376 an ounce from $372.50/376.50 in New York.

-- Silver rose to $13.55/13.60 an ounce from $13.53/13.58 late in New York.

Reuters DKS VP0737

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