Cash gold up but near 6-week lows, Tokyo drops

By Staff
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Google Oneindia News

SINGAPORE, May 17 (Reuters) Gold rebounded on Thursday but stayed within sight of its lowest level in six weeks hit the previous day, while Tokyo futures dropped in sympathy with declines in New York.

-- Spot gold gained to $663.30/664.00 an ounce from $661.60/663.10 late in New York on Wednesday, when it dropped to as low as $659.40 on a stronger dollar and lower crude oil prices .

-- Key April 2008 gold futures on the Tokyo Commodity Exchange fell 24 yen per gram to 2,604 yen, having hit 2,602 yen in early trade -- its lowest in nearly a week.

-- Global gold demand in the first quarter rose 4 percent year-on-year to 831.7 tonnes as less volatile prices boosted jewellery consumption, industry-sponsored World Gold Council said on Wednesday.

-- Total jewellery demand rallied 17 percent year-on-year to 572.8 tonnes for the first quarter, helped by solid gains in top consumer India, as well as in China, the Middle East and the United States, WGC said in a quarterly report.

-- The euro was steady at $1.3524 .

-- Platinum fell to $1,313/1,318 an ounce from $1,324/1,329 in New York.

-- Palladium was steady at $357/362 an ounce.

-- Silver edged up to $12.92/12.97 an ounce from $12.88/12.91 late in New York on Wednesday, when it tumbled to its lowest in nearly two months at $12.82 an ounce.

Precious metals prices at 0032 GMT Last Net Change Pct Move Turnover (lots) TOCOM Gold 2605.00 -23.00 -0.88 9699 TOCOM Platinum 4998.00 -23.00 -0.46 5631 TOCOM Silver 503.00 -7.70 -1.51 332 TOCOM Palladium 1415.00 -7.70 -0.63 159 Spot Gold 663.30 Spot Platinum 1313.00 Spot Silver 12.90 Spot Palladium 355.00 Change so far in 2007 Metal Latest bid End prev year Pct Move TOCOM Gold 2605.00 2445.00 +6.54 TOCOM Platinum 4998.00 4254.00 +17.49 TOCOM Silver 503.00 493.30 +1.97 TOCOM Palladium 1415.00 1255.00 +12.75 Spot Gold 663.30 636.10 +4.28 Spot Platinum 1313.00 1132.00 +15.99 Spot Silver 12.90 12.85 +0.39 Spot Palladium 355.00 332.00 +6.93 Euro/Dollar $1.3529 Dollar/Yen 120.85 TOCOM prices in yen per gram, spot prices in $ per ounce.

REUTERS SRS VP0625

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