Gold extends gains on dollar, platinum near 2-week high

Enlarge Photo Gold earrings are seen on display at a jewellery shop in Singapore in this March...

Fri, May 9 06:22 AM

SINGAPORE (Reuters) - Gold extended gains on Friday after the euro rebounded from a two-month low against the dollar, while platinum held near its best level in two weeks ahead of the launch of new platinum exchange-traded notes.

-- Gold edged up to $882.10/883.10 an ounce from $881.40/882.60 an ounce late in New York on Thursday, when it jumped to a one-week high at $885.25 an ounce.

-- Gold futures for June delivery on the COMEX division of the New York Mercantile Exchange added $1.6 an ounce to $863.7 an ounce.

-- Spot platinum rose to $2,010/2,030 an ounce from $2,008.50.50/2,028.50 late in New York -- within sight of Thursday's two-week high at $2,013.50 an ounce.

-- Dealers said the news that UBS would soon be launching two U.S. platinum exchange-traded notes boosted buying sentiment.

-- The two ETNs -- UBS E-Tracs Long Platinum ETN and UBS E-Tracs Short Platinum ETN -- will begin trading soon on the NYSE Arca platform, according to CNBC television and NYSE Euronext exchange data.

-- The benchmark contract for April 2009 delivery on the Tokyo Commodity Exchange rose 150 yen per gram to 6,553 yen.

-- The euro rebounded on Thursday from a two-month low against the dollar after European Central Bank President Jean-Claude Trichet said inflation remains his top concern, signalling that the bank will not cut interest rates anytime soon.

-- Silver edged up to $16.87/16.63 an ounce from $16.85/16.91 an ounce.

-- Spot palladium was unchanged at $430.50/438.50 an ounce.

Precious metals prices at 0025 GMT

Metal Last Change Pct chg YTD pct chg Turnover

Spot Gold 884.00 1.70 +0.19 6.16

Spot Silver 16.87 0.07 +0.42 14.22

Spot Platinum 2010.00 0.00 +0.00 32.24

Spot Palladium 430.50 0.00 +0.00 16.98

TOCOM Gold 2975.00 47.00 +1.61 -2.78 7380

TOCOM Platinum 6556.00 153.00 +2.39 22.79 3876

TOCOM Silver 569.90 10.50 +1.88 5.34 106

TOCOM Palladium 1479.00 27.00 +1.86 9.47 181

Euro/Dollar 1.5403

Dollar/Yen 103.69

TOCOM prices in yen per gram, except TOCOM silver which is priced in yen per 10 grams. Spot prices in $ per ounce.

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