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SINGAPORE, July 10 (Reuters) Gold held steady near $630 an ounce on Monday, but lacked the strength to build on last week's gains despite a weaker U.S. dollar.
''Nobody is doing anything. Dealers in Singapore and Hong Kong are suffering from a football hangover after watching the World Cup.
This is real,'' said a dealer in Singapore.
''For the week, I am looking at a trading range of $600 and $650.
I don't expect much to happen in London today, but people in New York may move the market because they have no interest in football,'' he said.
After opening at $629.50 an ounce in Asia, spot gold hit a high of $632. It was quoted at $630.40/631.90 by 0406 GMT, higher than $629.80/631.30 late in New York on Friday.
Gold had risen to $637 on Friday, its highest level in a month, after the dollar fell against major currencies.
''Everybody is sleepy after the World Cup,'' said Ronald Leung, director of Lee Cheong Gold Dealers in Hong Kong, adding that geopolitical tension in north Asia, triggered last week by North Korea's missile launches, would offer support for gold.
Japan will seek a United Nations Security Council vote on Monday on a resolution to impose sanctions on North Korea, Kyodo news agency reported from New York, quoting U.N. sources.
''I think we need to break above the $637 level and sustain gains so that we have the possibility to challenge $650,'' said another Singapore dealer, referring to a level last seen in May.
Tensions in the Middle East, record-high oil prices and uncertainty over the dollar's outlook propelled gold to a 26-year high of $730 in mid-May, before a brutal sell-off sent it to a three-month low of $543 an ounce in mid-June.
In Tokyo, the benchmark June 2007 gold contract on the Tokyo Commodity Exchange fell 35 yen per gram to 2,334 yen, tracking losses in New York's COMEX market. A firmer yen also induced selling in the Japanese market.
The dollar slipped to a one-month low against the yen after U.S.
job growth fell short of expectations and dampened expectations of further U.S. interest rates hikes in August.
The dollar dropped to 113.78 yen , the lowest since June 9.
The euro eased to $1.2795 , off a one-month peak of $1.2865 marked on Friday.
Platinum dropped to $1,226/1,231 an ounce from $1,228/1,233 in New York.Sister metal palladium also fell to $320/325 an ounce from $321/326 an ounce.
Silver inched up to $11.35/11.42 an ounce from $11.29/11.39.
Precious Metals Prices by 0406 GMT* Gold 630.40 0.60 +0.10 Platinum 1227.00 -1.00 -0.08 Palladium 320.00 -1.00 -0.31 Silver 11.36 0.05 +0.44 Change so far in 2006 Metal Latest bid End prev year Pct Move Gold 630.40 517.20 +21.89 Platinum 1227.00 968.00 +26.76 Palladium 320.00 254.00 +25.98 Silver 11.36 8.81 +28.94 * The closing prices used to calculate the net change may differ from New York's last quoted prices.
REUTERS CS PM1118


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