DJ PRECIOUS METALS: NY Gold Seen Up $1, Silver Down 12 Cents
By Matt Whittaker
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--February gold futures are expected to open floor
trading in New York around $1 an ounce higher Friday, based on electronic
activity ahead of the pit session at the Comex division of the New York
Mercantile Exchange.
March silver is expected to be down about 12 cents an ounce.
At 8 a.m. EST, spot gold was trading down 90 cents to $765.85.
In overnight activity, spot gold was trading mostly unchanged Friday and
market participants said the market would be watching U.S. dollar movements
leading up to the release of employment figures in the U.S.
The euro is down to $1.2682 from $1.2775 late Thursday afternoon. In screen
trading ahead of the pit open, the December S&P 500 futures are down 8.90
points. January crude is down 34 cents in overnight activity.
U.S. economic reports on Friday include November employment figured at 8:30
a.m. EST (1330 GMT); with non-farm payrolls expected down 350,000 and the
unemployment rate expected at 6.8%.
Comex gold warehouse stocks were unchanged at 8,519,868 ounces Thursday,
while silver stocks were down 6,952 ounces at 129,074,924 ounces.
-By Matt Whittaker, Dow Jones Newswires; 201-938-5959;
matt.whittaker@dowjones.com
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