Gold retreats from record as dollar firms

LONDON - Gold prices retreated on Thursday from the record highs they hit in the previous session as the U.S. dollar rose ahead of policy decisions from the UK and the euro zone, which curbed appetite for assets seen as higher risk.

The precious metal reached a high of $1,097.25 (U.S.) an ounce on Wednesday after a pledge from the U.S. Federal Reserve to keep interest rates low knocked the dollar. But the currency bounced back, diminishing interest in gold as an alternative asset.

Spot gold was bid at $1,090.10 an ounce at 1024 GMT, against $1,092.35 late in New York on Wednesday. U.S. gold futures for December delivery on the COMEX division of the New York Mercantile Exchange rose $3.40 to $1,090.70 an ounce.

"The fact that we didn't manage to go through $1,100 might lead some investors to reconsider their positioning in the sector," said Commerzbank analyst Eugen Weinberg.

"Should the dollar become stronger over the coming days I would expect to see more profit taking," he added.

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Among other precious metals.

Spot silver was bid at $17.40 an ounce against $17.44. Holdings of the world's biggest silver-backed exchange-traded fund, the iShares Silver Trust , fell 3.85 tonnes on Wednesday.

Platinum was at $1,357 an ounce against $1,364.

Palladium was at $328.50 against $327. The metals, both of which are primarily used in autocatalysts, are both sensitive to car demand.

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Copper falls as inventories, dollar climb

* LME copper stocks at highest since May

* BOE, ECB interest rate verdicts eyed

* Aluminium inventories dip


LONDON, Nov 5 (Reuters) - Copper fell on Thursday as yet
another hefty rise in LME stocks highlighted that demand is
still languishing, with the metal also pressured by a rising
dollar.

Copper for three-months delivery on the London Metal
Exchange traded at $6,520 a tonne at 1111 GMT from a close of
$6,570 on Wednesday, as other base metals and oil also fell.

Copper inventories climbed 5,775 tonnes to 379,825 tonnes,
standing at their highest level since early May.

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Aluminium traded at $1,916 from $1,921 as demand for
the metal used in transport and packaging continues to suffer.

Zinc was at $2,226.75 from $2,229.

Lead was at $2331.75 from $2,350.

Tin traded at $14,925 from $15,000.

Nickel was at $17,880 from $17,900.

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24 Hour Base Metals

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