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RTRS: Gold steadies after rally, awaits U.S. vote results
 
SINGAPORE, Nov 5 (Reuters) - Gold steadied in Asia on
Wednesday after rising around 5 percent in New York as
investors awaited the results of the U.S. election, which could
set the tone for the U.S. dollar and precious metals.
-- Gold was trading at $764.50 an ounce, up $2.55 an
ounce from New York's notional close on Tuesday, when it hit an
intraday high of $767.20 an ounce after the dollar dropped
against the euro.
-- The U.S. dollar tumbled on Tuesday, posting its biggest
one-day slide against the euro since that currency's 1999
launch, as investors bet that global interest rate cuts and a
credit market thaw would revive world growth. [USD/]
-- Broad-based Reuters/Jefferies CRB commodity index .CRB
rises more than 5 percent on Tuesday. Bullion was also
supported by signs that a global recessionseemed averted for
the moment as U.S. stocks jumped. [.N]
-- Analysts say a win by Democratic presidential candidate
Barack Obama, who is leading Republican opponent John McCain in
most polls, would be marginally better for the dollar, if only
because the Democrats already control Congress. That would make
it easier for a new administration to push through activist
policies to boost markets. [USD/]
-- Platinum was trading at $839.00 ounce, down $2.50
New York's notional close.
-- New York gold futures GCZ8 added $8.2 an ounce to
$765.4.
For the latest U.S. election news, click on
[US-VOTE-RTRS-LEN]
Precious metals prices at 2348 GMT
Metal Last Change Pct chg YTD pct chg
Turnover
Spot Gold 764.50 2.55 +0.33 -8.19
Spot Silver 10.19 0.02 +0.20 -31.01
Spot Platinum 839.00 -2.50 -0.30 -44.80
Spot Palladium 205.50 -1.00 -0.48 -44.16
TOCOM Gold 0.00-2313.00 -100.00 -100.00
0
TOCOM Platinum 0.00-2638.00 -100.00 -100.00
0
TOCOM Silver 0.00 -311.50 -100.00 -100.00
0
TOCOM Palladium 0.00 -656.00 -100.00 -100.00
0
Euro/Dollar 1.2989
Dollar/Yen 99.72
TOCOM prices in yen per gram, except TOCOM silver which is
priced in yen per 10 grams. Spot prices in $ per ounce.
(Reporting by Lewa Pardomuan; Editing by Kim Coghill)
Source