TAIPEI, Jan 12: Gold prices were mostly steady early on Friday as traders gauged the impact of a st

TAIPEI, Jan 12: Gold prices were mostly steady early on Friday as traders gauged the impact of a strong U.S.

dollar and weaker oil prices, which spurred concerns about a dip below $600 per ounce.

-- Spot gold was at $611.30/612.30 an ounce by 0042 GMT, slightly higher than $611.00/612.10 late in New York on Thursday.

-- Benchmark gold futures on the Tokyo Commodity Exchange rose 17 yen per gram to 2,391 yen per gram.

-- The dollar rose to its highest level since late November against the euro as demand for the 13-nation currency fell after the European Central bank suggested it may not raise rates again next month as some had expected.

The dollar was at $1.2885/88 against the euro by 0031 GMT, roughly steady with late New York levels.

-- Gold prices often fall with a rise in the dollar as the metal becomes expensive for holders of other currencies. Gold is also seen as a hedge against inflation.

-- The dollar also hit its highest level against the Japanese yen in over a year above 120 yen. It was trading at 120.40 yen early in Asia.

-- Oil prices slumped below $52 a barrel for the first time since May 2005 on Thursday, extending a decline to 15 percent since the start of the year on fund selling and weak demand for heating fuel.

-- U.S. crude had steadied to $52.20 per barrel.

-- Platinum slipped to $1,132/$1,137 an ounce from $1,130/1,135 late in New York.

-- Silver was steady at $12.33/12.38 against $12.32/12.39 an ounce late in New York.

-- Palladium was also steady at $327 an ounce from $327/332.

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