DJ PRECIOUS METALS: NY Gold Seen Down $23, Silver Down 41 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 $23 an ounce lower 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 41 cents an
ounce.
At 7:54 a.m. EST, spot gold was trading down $17.15 to $834.90. In overnight
activity, spot gold continued to fall as the dollar strengthened against most
major currencies and investors chose to book profits ahead of the holiday
season, analysts said Friday.
The euro is down to $1.3983 from $1.4243 late Thursday afternoon.
No major U.S. economic reports are scheduled for Friday.
Comex gold warehouse stocks were down 200 ounces at 8,540,101 ounces
Thursday, while silver stocks were down 539,189 ounces at 126,631,168 ounces.
-By Matt Whittaker, Dow Jones Newswires; 201-938-5959;
matt.whittaker@dowjones.com
