TOKYO, Oct 3 Gold edged up on Wednesday after falling more than 2 percent the previous da

Written by:
Subscribe to Oneindia News

TOKYO, Oct 3 (Reuters) Gold edged up on Wednesday after falling more than 2 percent the previous day due to a rise in the dollar, while platinum, which had fallen more than 3 percent in tracking gold's fall, was also firmer.

-- Cash gold traded at $733.00/733.80 an ounce as of 0043 GMT versus $731.00/731.80 late in New York on Tuesday.

-- The consolidation was also technical as it followed bullion's 17 percent rally from an August trough of $641.10. It had surged due to record high oil prices, tensions in the Middle East, investor demand through exchange-traded funds (ETFs) and the Federal Reserve's move to cut interest rates.

-- Growth in gold ETFs continued, with gold used to back New York's StreetTRACKS Gold Shares , the most popular of its kind, rising to a record 578.03 tonnes according to the latest data .

-- Spot platinum at $1,348/1,353 an ounce, compared with $1,345.50/1,352.50 in New York. Earlier this week it reached $1,391, within sight of last November's record high of $1,395.

-- The dollar steadied on Wednesday as investors waited for economic data later this week for more clues on the health of the U.S. economy.

-- The euro was little changed from late U.S. trade on Tuesday at $1.4155, having retreated from its all-time high of $1.4283 hit on electronic trading platform EBS earlier this week.

-- Benchmark August 2008 gold futures <0JAU:> on the Tokyo Commodity Exchange fell 7 yen a gram, or 0.3 percent, to 2,754 yen.

-- COMEX futures rose in Asia, with the most active December contract gaining $4.3 an ounce to $740.7 from the New York settlement. On Monday it hit a 28-year high of $755.70.

-- Spot silver was quoted at $13.34/13.39 an ounce, little changed from late New York's $13.32/13.37.

-- Spot palladium traded little changed at $347/352 an ounce.

Precious metals prices at 0047 GMT Metal Last Change Pct chg YTD pct chg Turnover Spot Gold 733.00 1.90 +0.26 15.31 Spot Silver 13.31 -0.01 -0.08 3.58 Spot Platinum 1348.00 2.50 +0.19 19.08 Spot Palladium 347.00 -0.50 -0.14 4.52 TOCOM Gold 2754.00 -7.00 -0.25 12.64 23996 TOCOM Platinum 4969.00 -9.00 -0.18 16.81 14348 TOCOM Silver 498.30 -2.00 -0.40 1.01 514 TOCOM Palladium 1314.00 -11.00 -0.83 4.70 115 Euro/Dollar 1.4154 Dollar/Yen 115.73 TOCOM prices in yen per gram, except for silver which is in yen per 10 grams, spot prices in $ per ounce.

Reuters SBA VP0652

Please Wait while comments are loading...