gold news from the wires..

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    GOLD 354.50/5.10 * 350.00 * 355.00 * 64 * 350.89 * 340.64

    SILVER 4.82/4.84 * 4.75 * 4.90 * 57 * 4.83 * 4.70

    PLAT 615.20/2.20 * 600.00 * 650.00 * 63 * 610.31 * 599.10

    ----------------- VIEWS FROM THE MARKET - Jan 14 --------------

    LONDON, Jan 14 (Reuters) - Gold continues to take a breather

    from its latest rally, with the lack of liquidity seen fuelling

    exaggerated moves, while direction was seen linked to moves in

    the dollar, traders and analysts said.

    The precious metal is not far from its near-six-year high

    scored last Thursday, with the looming threat of war in Iraq and

    a shaky U.S. dollar attracting buying into the dips.

    "For the time being...the market seems reasonably sanguine,

    pointing more to the political, economic and financial

    environments," the World Gold Council said in a weekly gold

    market report.

    Traders will be monitoring the release at 1330 GMT of U.S.

    December retail data, which is estimated by economists polled by

    Reuters to have grown a paltry 0.2 percent, compared with a rise

    of 0.5 percent in November.

    Weaker-than-expected figures could see the dollar wobble

    back down to recent three-year lows against the euro, enhancing

    bullion buying power for European investors.

    GOLD - Remains below Thursday's near-six-year high at

    $356.50, consolidating recent gains, but needs fresh impetus to

    crack resistance just below there.

    "Expect further resistance between $355/56.50 over the

    coming trading sessions," Scotiamocatta said in its daily


    A breach of this level could see gold then target $362.00.

    European traders said there was a lot of uncertainty as to

    which way the market would move after the recent bout of choppy


    "No-one seems to have an idea which way it will break

    out...whether it will be at $355 or $350. I think there are

    stops either side and if we break either way, we would probably

    quickly see $2-$3 up or down," one trader said.

    "But nobody is keen to make the first move."

    On the downside, scale-down buying was expected to continue

    from $351.00 down to $348.00.

    At 0822 GMT spot gold was quoted at $352.75/353.50 an

    ounce, down from Monday's close in New York at $354.50/355.10.

    SILVER - Strong resistance at a triple top of $4.86

    continues to cap the market, which needs to be taken out to

    allow silver to regain $5.00 an ounce.

    At 0822 GMT silver was quoted at $4.81/4.83, weaker

    than New York's previous $4.82/4.84.

    "Strong resistance should continue to be seen between the

    recent high of $4.86/87 and $4.90, while further resistance will

    be seen at $5.00 and last year's high of $5.15," said in an overnight commentary.

    Initial support was fixed at $4.75.

    PLATINUM AND PALLADIUM - Platinum was expected to move off

    recent highs as forward rates ease and continues to search for

    direction, while palladium looks to be running out of steam

    having briefly regained the $260/oz level, traders said.

    At 0822 GMT spot palladium was quoted at

    $251.00/259.00, unchanged from Monday's close, while platinum

    was last at $615.00/620.00, dipping slightly from

    $615.20/622.20 at New York's previous close.
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