SINGAPORE, Sep 26 Gold firmed on Wednesday as the U.S. dollar hit a record low against th

By Staff
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SINGAPORE, Sep 26 (Reuters) Gold firmed on Wednesday as the U.S. dollar hit a record low against the euro, while bargain hunters lifted the most active contract in Tokyo futures.

-- Spot gold rose to $732.10/732.90 an ounce from $730.40/731.20 late in New York on Tuesday, when it dropped more than $1 as speculators booked profits on last week's run to a 28-year high of $739 an ounce.

-- Resistance was pegged at $740, while support levels were seen at $728 and $725.

-- The benchmark August 2008 gold futures on the Tokyo Commodity Exchange added 19 yen per gram to 2,727 yen, having fallen to a one-week low of 2,706 yen on Tuesday.

-- The most-active December gold contract on the COMEX division of the New York Mercantile Exchange edged up $0.7 an ounce to $739.50 an ounce on electronic trade.

-- The euro hit a record high against the dollar on Wednesday as the U.S. currency was hit by a slide in U.S.

consumer confidence and weak housing figures that fueled expectations the Federal Reserve may cut interest rates next month.

-- The euro rose to $1.4163 on electronic trading platform EBS in early Tokyo trade. Data showed that U.S.

consumer confidence fell to its lowest in nearly two years on growing concerns about jobs and financial market turmoil.

-- The dollar slipped to 114.60 yen .

-- Silver inched up to $13.46/13.51 an ounce from $13.42/13.47 an ounce.

-- Platinum rose to $1,347/1,352 an ounce from $1,343.90/1,350.90 late in New York. Palladium gained to $337/342 an ounce from $335.05/339.05.

Precious metals prices at 0102 GMT Metal Last Change Pct chg YTD pct chg Turnover Spot Gold 731.90 0.90 +0.12 15.13 Spot Silver 13.45 0.00 +0.00 4.67 Spot Platinum 1347.00 3.10 +0.23 18.99 Spot Palladium 337.00 1.95 +0.58 1.51 TOCOM Gold 2728.00 20.00 +0.74 11.57 17247 TOCOM Platinum 4935.00 35.00 +0.71 16.01 7937 TOCOM Silver 499.80 4.20 +0.85 1.32 350 TOCOM Palladium 1271.00 3.00 +0.24 1.27 54 Euro/Dollar 1.4141 Dollar/Yen 114.74 TOCOM prices in yen per gram, except TOCOM silver which is priced in yen per 10 grams. Spot prices in $ per ounce.

Reuters KK VP0718

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