TOKYO, Oct 11 Gold inched up on Thursday, supported by firm oil prices, but lacked the dr
TOKYO, Oct 11 (Reuters) Gold inched up on Thursday, supported by firm oil prices, but lacked the drive to breach key resistance levels, while Tokyo futures dipped.
-- By 0119 GMT, spot gold was trading at $741.70/742.30 an ounce, versus Wednesday's late New York level of $738.80/739.60, where it rose as high as $745.80. Traders noted strong resistance at $750-$760.
-- COMEX futures rose in Asia, with the most active December contract at $747.1 an ounce, up $1.1, or 0.2 percent, from the New York settlement.
-- NYMEX crude for November delivery rose 15 cents to $81.45 a barrel in Globex electronic trading, gaining for a third day and nearing its highest in two weeks.
-- The key August 2008 gold contract on the Tokyo Commodity Exchange fell 5 yen or 0.2 percent to 2,817 yen per gram.
-- Germany's Budesbank told Reuters on Wednesday that it will hold on to the vast bulk of its gold reserves in the next 12 months, selling only enough bullion to mint coins.
[ID:nL10107458] -- In investment news, BlackRock fund manager Graham Birch, who manages $9.4 billion in gold equities, said he expects gold prices to gain further this year and a gently rising trend to be sustained in the long term, with demand from China playing a key role. [ID:nL10417836] -- Platinum was at $1,380/1,385 an ounce compared to $1,381/1,388 in New York.
-- Palladium edged down to $371/376 an ounce from $372.50/376.50 in New York.
-- Silver rose to $13.55/13.60 an ounce from $13.53/13.58 late in New York.
Reuters DKS VP0737