gold news from the wires..

---------------------------------------------------------------

SPOT NY CLOSE * SUPPORT * RESIST * RSI14 * MA10 * MA30

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

Marketwatch.

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

trading.

"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,"

TheBullionDesk.com 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.