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SINGAPORE, May 23 (Reuters) Gold rose as much as 1 percent on Tuesday as buying interest resurfaced following the metal's fall the previous day to its lowest in nearly four weeks.
- Spot gold hit a high of $662.80 an ounce before retreating to $661.60/662.40 an ounce, still up from $655.60/656.40 late in New York. N M Rothschild pegged support at $650 an ounce.
-- Gold fell to $636.20 an ounce on Monday, its lowest since April 28, as a strong dollar sparked heavy selling. But it pared losses after bargain-hunters reappeared and the dollar weakened.
-- Dealers said gold was consolidating after hitting a 26-year high of $730 on May 12. The metal was likely to trade in a range of $625-$675, underpinned by global tensions, high energy prices and volatility in global markets such as currencies, they said.
-- Benchmark gold futures on the Tokyo Commodity Exchange, currently April 2007, fell 9 yen per gram to 2,425 yen.
-- The euro was slightly lower at $1.2852 .
-- Platinum rose to $1,284/1,292 an ounce from $1,279/1,285 in New York.
-- Sister metal palladium also rose to $338/345 an ounce from $336/342.
-- Silver edged up $12.50/12.60 an ounce from $12.46/12.56.
Precious Metals Prices by 0027 GMT* Last Net change Pct Move Gold 661.30 4.80 +0.73 Platinum 1288.00 9.00 +0.70 Palladium 339.00 3.00 +0.89 Silver 12.53 0.07 +0.56 Change so far in 2006 Metal Latest bid End prev year Pct Move Gold 661.30 517.20 +27.86 Platinum 1288.00 968.00 +33.06 Palladium 339.00 254.00 +33.46 Silver 12.53 8.81 +42.22 * The closing prices used to calculate the net change may differ from New York's last quoted prices.
Reuters AD GC0910


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