Array

By Staff
|
Google Oneindia News

SINGAPORE, Aug 4 (Reuters) Gold bounced around on Friday ahead of the release of U.S. jobs data, which was expected to offer leads for the precious metals market.

-- Spot gold hit a high of $647.00 an ounce before dipping to $644.70/646.20 an ounce, down from $646.50/648.00 late in New York on Thursday.

-- Gold failed to go beyond Wednesday's two-week high of $655.45 as selling pressure emerged at higher levels despite war in the Middle East. Resistance was pegged around $652.50.

-- Dealers awaited Friday's nonfarm payrolls report for July and a U.S. Federal Reserve decision on interest rates next week for financial market reaction.

-- The euro was lower at $1.2791 from around $1.2800 in late U.S. trade.

-- The jobs data is the last major indicator slated for release ahead of a Federal Reserve policy meeting next Tuesday.

-- It will be pivotal in determining expectations for whether the Fed will take a pause from a two-year campaign of raising interest rates, now at 5.25 percent, dealers said.

-- Benchmark gold futures on the Tokyo Commodity Exchange fell eight yen per gram to 2,417 yen.

-- Platinum dipped to $1,235/1,240 an ounce from $1,237/1,241 late in New York.

-- Sister metal palladium dropped to $320/325 from $322/327.

-- Silver inched up to 12.07/12.14 an ounce from $12.04/12.14 late in New York.

Precious Metals Prices by 0036 GMT* Metal Last Net change Pct Move Gold 646.00 1.60 +0.25 Platinum 1235.00 -2.00 -0.16 Palladium 320.00 -2.00 -0.62 Silver 12.07 0.04 +0.33 Change so far in 2006 Metal Latest bid End prev year Pct Move Gold 646.00 517.20 +24.90 Platinum 1235.00 968.00 +27.58 Palladium 320.00 254.00 +25.98 Silver 12.07 8.81 +37.00 * The closing prices used to calculate the net change may differ from New York's last quoted prices.

REUTERS VJ RK0725

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X