gold getting a bath, page-7

POG atm $908.56

From Reuters:

SINGAPORE, May 27 (Reuters) - Gold edged lower on Tuesday, erasing earlier gains, as the dollar bounced off a one-month low and on a recovery in equity markets, but traders kept an eye on rising oil prices following supply disruptions in Nigeria.

Spot gold fell to $922.40/923.40 an ounce by 0830 GMT, off an earlier intraday peak of more than $930, and down from $925.20/926.60 in New York late on Friday.

Other precious metals followed suit, with spot silver edging down having held largely steady and spot platinum off earlier highs.

Markets in Britain and the United States were closed for public holidays on Monday and price moves accelerated on Tuesday as London reopened .

The euro slipped from a one-month high against the dollar on Tuesday after weak German consumer sentiment data stoked concerns that cracks in the eurozone economy are starting to show.

The dollar index rose by 0.18 percent to 72.019 as the euro weakened. Asian stocks rose on Tuesday as bargain hunters scoured the market after five days of losses, and European stocks also moved higher, adding to the pressure on gold.

But a rise in oil prices above $133 on production problems in the North Sea over the weekend and in Nigeria on Monday where rebels blew up a pipeline kept inflation fears high and put a floor under falling bullion prices.

"I am tracking oil prices for direction," said Ronald Leung, director of Lee Cheong Gold Dealers in Hong Kong.
"If gold holds above $910, it could go up to $950. If it falls below $910, it could go back to the $800s," he added.
Oil bellwether NYMEX was up $1.13 at $133.32 by 0850 GMT, having climbed earlier to $133.65.

Gold futures for June delivery on the COMEX division of the New York Mercantile Exchange fell $0.30 to $923.00 an ounce.

Benchmark April gold on the Tokyo Commodity Exchange closed 2 yen lower at 3,103 yen per gram, having settled unchanged on Monday.

Spot platinum rose to $2,165.50/2,185.50 an ounce from $2,156.50/2,176.50 late in New York on Friday, but well below the day's highest offer at $2,209.

The most active Tokyo platinum futures contract for April settled 3 yen down to 7,040 yen per gram, below an earlier high of 7,103 yen hit earlier in the day.
Silver fell to $18.13/18.21 an ounce, against last Friday's $18.26 high, which was its highest level since April 18.

Spot palladium was largely steady at $447/$455 an ounce. Precious metals prices at 0830 GMT Metal Last Change Pct chg YTD pct chg Turnover Spot Gold 922.40 -5.70 -0.61 10.77 Spot Silver 18.13 -0.13 -0.71 22.75 Spot Platinum 2165.50 -9.50 -0.44 42.47 Spot Palladium 447.00 0.00 +0.00 21.47 TOCOM Gold 3103.00 -2.00 -0.06 1.41 40841 TOCOM Platinum 7040.00 -3.00 -0.04 31.86 22043 TOCOM Silver 612.90 2.40 +0.39 13.29 972 TOCOM Palladium 1524.00 5.00 +0.33 12.81 1030 Euro/Dollar 1.5751 Dollar/Yen 103.73 TOCOM prices in yen per gram, except TOCOM silver which is priced in yen per 10 grams. Spot prices in $ per ounce.