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Message: US gold gains modestly with euro, oil, equities

US gold gains modestly with euro, oil, equities

posted on Mar 25, 2010 03:08PM

NEW YORK, March 25 (Reuters) - U.S. gold futures pushed higher on Thursday, rebounding off a 6-week low hit overnight, when the euro bounced from a 10-month low against the U.S. dollar and oil moved up along with U.S. equity prices.

* For the latest detailed report, click on [GOL/].

GOLD

* COMEX April added $2.70 to $1,091.50 an ounce.

* Range ran $1,084.80, lowest since Feb. 12, to $1,106.0.

* Gold was bought by investors after falling to a six-week low overnight, when the euro reversed substantial losses against the dollar.

* The euro rose from a 10-month low against the U.S. dollar ahead of a summit meeting of European leaders to discuss possible aid for heavily-indebted Greece. [USD/]

* "Gold is moving along with everything else, the euro, oil, equities. They all are moving in tandem," - gold trader.

* U.S. stocks got a boost from increased forecasts by Qualcomm (NASDAQ: QCOM - news) and from electronics retailer Best Buy's higher-than-expected quarterly profit and sales. [.N]

* Oil moved up towards $81 a barrel after robust U.S. employment data and the two-day EU summit to discuss possible aid for debt-laden Greece.

* Gold's gains were limited, however, as investors kept an eye on CFTC public hearing on futures and options in metals in Washington. [ID:nN2390912]

* COMEX gold stocks lost 1 ounce to 10,022,925 ounces as of Wednesday.

* Spot gold rises to $1,090.50 an ounce at 10:40 a.m. EDT (1440 GMT), from $1,085.60 an ounce late in New York in the previous session.

* London gold fix was at $1,093.00 an ounce.

SILVER

* COMEX May silver jumped 6.90 cents to $16.71 an ounce.

* Range spans $16.5550 to $17.0450.

* Silver follows gold higher.

* COMEX silver stocks added 142,544 ounces to 115,928,609 ounces on Wednesday.

* Spot silver increased to $16.67 an ounce from $16.57 late in the prior session.

* London silver was fixed at $16.79 an ounce.

PLATINUM

* April adds $8.70 to $1,596.60 an ounce.

* Spot platinum at $1,591 an ounce rises above $1,577 an ounce late on Wednesday.

PALLADIUM

* June palladium loses $6.35, or 1.40 percent, to $447.55 an ounce.

* Spot palladium at $445.50, an increase over $440.50 an ounce in the previous session.

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