US bullion lower; dollar climb prompts profit-taking

Thu Mar 4, 2010 11:13am EST Related News US gold hits 6-1/2 week highs on currency volatilityWed, Mar 3 2010US gold higher but gains trimmed on profit-takingWed, Mar 3 2010US gold hits six-week high on currency volatilityTue, Mar 2 2010US gold hits 6-week high on fund buyingTue, Mar 2 2010US gold ends tad down as dollar cuts gains vs euroMon, Mar 1 2010

NEW YORK, March 4 (Reuters) - U.S. gold futures droppedbelow $1,130 an ounce Thursday on profit-taking following theprevious sessions" gains, but strong underlying investmentdemand should limit losses. * For the latest detailed report, click on [GOL/]. GOLD * COMEX April GCJ0 down $13.80, or 1.2 percent, at$1,129.50 an ounce at 10:36 a.m. EST (1536 GMT). * Ranged from $1,125.90 to $1,142.30. * Dollar bounce prompts bullion investors to take profitsfollowing rally earlier this week. * Euro falls against greenback as European Central Bankreinforces view that interest rates will remain low. [USD/] * Gold prices pressured by lower physical demand afterChinese new year, banks" price target downgrades - RBS. * Underlying support seen as SPDR Gold Trust posted inflowfor second consecutive day. [GOL/SPDR] * Comex estimated 10 a.m. volume at 66,547 contracts. * Spot gold XAU= at $1,128.10, compared with $1,139.35late in New York in the previous session. * London gold afternoon fix XAUFIX= at $1,134.50. SILVER * May SIK0 down 16.9 cents at $17.160 an ounce, takingthe lead from weaker gold. * Range $17.055 to $17.395. * COMEX estimated 10 a.m. volume at 14,798 contracts. * Spot silver XAG= at $17.13 an ounce, compared with theprevious session"s $17.17 late quote in New York. * London silver XAGFIX= fix at $17.34 an ounce. PLATINUM * April PLJ0 down $7.60 at $1,575.90 an ounce on broadindustrial metal weakness. * Spot platinum XPT= at $1,568 an ounce. PALLADIUM * June palladium PAM0 up $4.95, or 1.1 percent, at$455.45 an ounce on investment demand. * Spot palladium XPD= at $451 an ounce.Prices at 10:52 a.m. EST (1552 GMT) Last Change Pct 2009 YTD Chg Close % ChgUS gold GCJ0 1129.80 -13.50 -1.2 1096.20 3.1US silver SIK0 17.160 -0.169 -1.0 16.845 1.9US platinum PLJ0 1575.00 -8.50 -0.5 1471 7.1US palladium PAM0 455.45 4.95 1.1 408.85 11.4Gold XAU= 1128.90 -10.45 -0.9 1096.35 3.0Silver XAG= 17.13 -0.04 -0.2 16.84 1.7Platinum XPT= 1568.50 -7.00 -0.4 1465.50 7.0Palladium XPD= 453.00 6.50 1.5 405.50 11.7Gold Fix XAUFIX= 1134.50 -1.75 -0.2 1104 2.8Silver Fix XAGFIX= 17.34 17.00 1.0 16.99 2.1Platinum Fix XPTFIX= 1576.00 4.00 0.3 1466 7.5Palladium Fix XPDFIX= 458.00 14.00 3.2 402 13.9 (Reporting by Frank Tang; (Reporting by Rebekah Kebede)

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