TOKYO, Oct 1 Gold stayed near a 28-year high on Monday, supported by the dollar's weaknes

By Staff
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TOKYO, Oct 1 (Reuters) Gold stayed near a 28-year high on Monday, supported by the dollar's weakness against the euro, while platinum touched a fresh 10-month high on expectations of rising demand.

-- Absence of Chinese investors, a key player in Asia, due to market closures curbs activity. Chinese markets are closed for a week-long holiday starting from Monday.

-- Cash gold traded at $743.30/744.10 an ounce as of 0020 GMT, versus $742.40/743.20 late in New York on Friday, when it had risen as high as $740.50.

-- Spot platinum cleared $1,390 an ounce and was quoted at $1,391/1,396, rising further from $1,385/1,390 in New York.

-- Benchmark August 2008 gold futures on the Tokyo Commodity Exchange rose 15 yen a gram, or 0.5 percent, to 2,773 yen. It earlier reached 2,774 yen per gram -- the highest for any benchmark since April 1985.

-- COMEX futures also extended gains in Asia, with most-active December contract edging up to $750.4 an ounce It settled New York on Friday at $750.

-- Data released by the Commodity Futures Trading Commission of the United States showed speculative net longs in COMEX gold were up for a fourth straight week, rising 23 percent. [ID:nN28194374] -- The dollar extended its losses to fall to a record low against the euro and an all-time low versus a basket of currencies on Monday, after tame U.S. inflation data bolstered the case for more Fed rate cuts. [ID:nT97893] -- The BOJ tankan survey's headline diffusion index (DI) for big manufacturers' sentiment came in at plus 23, unchanged from the reading in the June survey and just above the market's median forecast of plus 22. [ID:nT108755] -- The dollar was quoted at around 114.85 yen , little changed from levels in late U.S. trading on Friday.

-- The euro was steady at $1.4270 having pulled back slightly from record highs above $1.4280 hit on electronic trading platform EBS earlier on Monday.

-- Spot silver quoted at $13.77/13.82 an ounce, versus $13.71/13.76.

-- Spot palladium traded at $346/351 an ounce, against $343.00/348.00.

Precious metals prices at 0046 GMT Metal Last Change Pct chg YTD pct chg Turnover Spot Gold 743.90 0.20 +0.03 17.02 Spot Silver 13.77 0.01 +0.07 7.16 Spot Platinum 1391.00 8.00 +0.58 22.88 Spot Palladium 346.00 2.00 +0.58 4.22 TOCOM Gold 2775.00 17.00 +0.62 13.50 14829 TOCOM Platinum 5085.00 68.00 +1.36 19.53 12538 TOCOM Silver 511.60 4.80 +0.95 3.71 325 TOCOM Palladium 1307.00 7.00 +0.54 4.14 111 Euro/Dollar 1.4270 Dollar/Yen 114.86 TOCOM prices in yen per gram, except for silver which is in yen per 10 grams, spot prices in $ per ounce.

Reuters MP VP0650

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