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PRECIOUS-Gold drops to near 4-month low as dollar up, equities firm
2014年5月28日 / 中午11点50分 / 3 年前

PRECIOUS-Gold drops to near 4-month low as dollar up, equities firm

* Dollar rises vs euro on speculation over ECB action
    * Inverse link between gold, Treasuries appears broken
    * US COMEX volume strong head of contract rollover

 (Adds comment, second byline, dateline, updates market
activities)
    By Frank Tang and Jan Harvey
    NEW YORK/LONDON, May 28 (Reuters) - Gold prices fell to
their lowest in nearly 4 months on Wednesday, extending the
previous session's two-percent sell-off, as the dollar rallied
against the euro and stock markets held near recent record
highs.
    With a lack of major U.S. economic indicators on Wednesday,
bullion investors turned to outside markets for trading cues. 
    The S&P 500 equities index inched up to hover near
Tuesday's record high, while the dollar index rose on softness
among other major currencies such as the euro, which fell amid
speculation of an interest rate cut by the European Central Bank
ahead of next week's policy meeting. 
    "I don't think we can ignore the dollar strength - the rise
in the dollar in anticipation of euro zone central-bank action
next week is weighing down on gold," said Adrian Ash, head of
research at online precious-metals market BullionVault.
    Analysts also cited a breakdown of gold's usual inverse
correlation with U.S. bond yields. Yields on 10-year U.S.
Treasuries tumbled to their lowest in 11 months. 
    Spot gold fell 0.4 percent to $1,258.50 an ounce by
2:40 p.m. EDT (1840 GMT), having earlier hit $1,255.66 which
marked its weakest since early February. 
    U.S. COMEX gold futures for June delivery settled 
down $6.20 an ounce at $1,259.30 an ounce.
    Trading volume was nearly 300,000 lots, nearly double its
30-day average at 150,000 lots, preliminary Reuters data shows,
partly due to the June-August contract rollover ahead of first
notice day Friday.
    Among other precious metals, silver ended flat,
unchanged from Tuesday's close at $19.05. Platinum was
down 0.5 percent at $1,450.25 an ounce and palladium 
climbed 0.5 percent to $834 an ounce.

 2:40 PM EDT     LAST/    NET   PCT      LOW    HIGH  CURRENT
                SETTLE   CHNG  CHNG                       VOL
 US Gold JUN   1259.30  -6.20  -0.5  1255.80 1267.30  150,598
 US Silver MAY  19.035 -0.004   0.0   00.000  00.000         
 US Plat JUL   1462.70   0.40   0.0  1442.70 1468.80   13,982
 US Pall JUN    839.85   9.20   1.1   830.55  844.65   10,419
                                                              
 Gold          1258.50  -4.89  -0.4  1256.35 1267.33         
 Silver         19.050  0.000   0.0   19.010  19.150
 Platinum      1450.25  -6.75  -0.5  1452.00 1464.75
 Palladium      834.00   4.00   0.5   832.90  843.00
                                                              
 TOTAL MARKET              VOLUME          30-D ATM VOLATILITY
                CURRENT   30D AVG  250D AVG   CURRENT     CHG
 US Gold        280,162   150,162   179,915     15.53   -0.09
 US Silver       35,623    52,525    55,076      21.6    1.81
 US Platinum     14,456     9,999    12,588     20.18    0.20
 US Palladium    24,510     6,856     5,965     24.71    1.27
                                                              
 
 (Additional reporting by A. Ananthalakshmi in Singapore;
Editing by Susan Thomas, Pravin Char and Chizu Nomiyama)

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