SINGAPORE, Feb 2 Gold dropped on Friday as investors paused for breath after propelling t

By Staff
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Google Oneindia News

SINGAPORE, Feb 2 (Reuters) Gold dropped on Friday as investors paused for breath after propelling the price to a six-month high around $661 an ounce the previous day.

-- Spot gold fell to $655.80/656.80 an ounce from $657.00/657.40 late in New York on Thursday, when it had risen to its highest since mid-July at $661.50 as buying accelerated after a key resistance of $655 was broken.

-- Dealers await the release of U.S. payrolls report, which is expected to bring more clarity on the direction of U.S.

growth, especially after the Federal Reserve kept interest rates on hold this week.

-- Benchmark gold futures on the Tokyo Commodity Exchange, currently December 2007, rose 17 yen per gram to 2,569 yen, reflecting rises in New York's COMEX market.

-- The euro hardly changed at $1.3018 .

-- Silver edged up to $13.63/13.70 an ounce from $13.62/13.69 late in New York.

-- Platinum eased to $1,181/1,186 an ounce from $1,182/1,187 an ounce. Palladium fell to $340/345 an ounce from $341/346 an ounce.

Reuters SBA VP0644

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