gold - just took off!!, page-4

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SPOT NY CLOSE * SUPPORT * RESIST * RSI14 * MA10 * MA30

GOLD 324.60/5.10 * 322.00 * 328.00 * 67 * 322.86 * 320.38

SILVER 4.62/4.64 * 4.50 * 4.70 * 73 * 4.57 * 4.53

PLAT 594.00/5.00 * 580.00 * 610.00 * 53 * 593.01 * 588.59

----------------- VIEWS FROM THE MARKET - Dec 12 --------------

LONDON, Dec 12 (Reuters) - Gold is expected to remain firm

on Thursday, bolstered by pre-weekend buying and the continued

uncertainty surrounding the United Nations' analysis of Iraq's

arms declaration.

Iraq submitted a 12,000-page dossier on its arms programmes

to the United Nations last Saturday in line with a United

Nations Security Council resolution threatening serious

consequences if it failed to cooperate with the inspectors.

Meanwhile, U.N. arms experts, in the third week of their

mission since returning to Iraq after a four-year absence, have

intensified their inspections since the dossier was handed over.

Gold finished higher on Wednesday, supported by reports of a

ship being held off the Arabian Peninsula with a cargo of scud

missiles on board. The North Korean ship was later released and

was allowed to continue its journey to Yemen.



GOLD - Prices will stay locked in their current range of

$322.00/328.00 a troy ounce in the coming sessions, traders and

analysts said on Thursday.

"Gold should be well supported on any dip as the weekend

approaches, with the well-established trend of pre-weekend

insurance buying looking set to continue. The near-term trading

range appears to be $322.00 to $328.00, with the $325.00 level

providing a pivotal area within these parameters," Standard Bank

London said in a daily report.

At 0847 GMT spot gold was quoted at $326.20/326.70 a

troy ounce, up from Wednesday's New York close at

$324.60/325.10.



SILVER - The market continues to plod along quietly with

prices well supported and set to remain rangebound in the coming

sessions, analysts said.

At 0848 GMT spot silver was quoted at $4.64/4.66, up

from Wednesday's close in New York at $4.62/4.64.

"Silver was relatively quiet (on Wednesday) but continues to

feel well supported. Good technical levels under the market are

also adding support, which should attract speculative buying on

any dip," Standard Bank said.

"A decisive break of $4.65 should see this industrial metal

target $4.78," the report added.



PLATINUM AND PALLADIUM - Platinum continued to be viewed as

vulnerable to downside pressure on Thursday, though thinner

trading conditions as the traditional seasonal lull in activity

takes grip should prevent any steep falls, analysts said.

"Funds and speculators who are holding long positions (in

platinum) at present will be keen to support the price for end

of year revaluation purposes," said Standard Bank.

At 0848 GMT spot platinum was quoted at

$592.00/597.00, little changed from Wednesday's close at

$594.00/595.00, while palladium was more or less stagnant

at $241.00/246.00, versus $241.00/248.00 at the New York close.

((Lorna Hutchinson, London newsroom, +44 207 542 8065, fax

+44 207 542 8077, [email protected]))