U.S. gold takes breather as dollar rebounds

NEW YORK, Oct 9 (Reuters) - U.S. gold futures took a
breather on Friday as a dollar bounce prompted pre-weekend
profit-taking following this week's sharp rally to the previous
session's record high above $1,060 an ounce.

For the latest detailed report, click on [GOL/].

GOLD

* Most-active December gold futures GCZ9 down $6.30 at
$1,050 an ounce at 10:23 a.m. EDT (1423 GMT) on the COMEX
division of the New York Mercantile Exchange.

* Ranged from $1,044.70 to $1,056.70.

* Gold continued to closely track currency market
movements. The metal is used as a hedge against the dollar
weakness.

* The dollar rose from a 14-month low against a basket of
currencies after Federal Reserve Chairman Ben Bernanke said the
U.S. central bank will be ready to tighten monetary policy as a
recovery takes hold. [USD/]

* Peter Buchanan, commodities analyst at CIBC, has an
"underweight" rating in gold because of an oversold dollar,
lower investor anxiety and lessened inflation worries.

* Investors in SPDR Gold Trust held steady as of Oct. 8.
The largest gold-backed exchange-traded fund bought nearly 14
tonnes of gold, lifting its holdings 1.3 percent, in the week
so far. It had reported four consecutive day of inflows prior
to Thursday. XAUEXT-NYS-TT [GOL/SPDR]

* India's gold collection under exchange-traded funds rose
by 15.3 percent on year to 6.765 tonnes in September, data from
the funds showed, in a month when the yellow metal neared its
all-time high. [ID:nBOM164717]

* Oil prices rose slightly to just under $72 a barrel.

* Unusually high gold prices relative to oil suggested
downside risk to bullion - Buchanan.

* Gold-to-oil ratio at 14.60, down from the previous
session's 14.68.

* COMEX estimated 9 a.m. volume at 47,240 lots.

* Spot gold was at $1,048.10 an ounce, against its previous
finish of $1,054 quoted late in New York.

* London afternoon gold fix XAUFIX= was at $1,046.75.

SILVER

* December silver SIZ9 down 6 cents at $17.755 an ounce,
down with gold.

* Ranged from $17.555 to $17.835.

* COMEX estimated 9 a.m. volume at 8,549 lots.

* Spot silver XAG= was at $17.71, versus its previous
finish of 17.72 an ounce.

* London silver fix XAGFIX= at $17.63 an ounce.

PLATINUM

* January platinum PLF0 down $6.90 at $1,346.30 an ounce
as investors took profits after Thursday's gains.

* Spot platinum XPT= was at $1,335.50, compared with its
previous finish of $1,344.50.

PALLADIUM

* December palladium PAZ9 up 90 cents at $323.50 an ounce
on strong investment demand.

* Spot palladium XPD= was at $320.50, against its
previous close of $318.
Prices at 10:05 a.m. EDT (1405 GMT)

Last Change Pct 2008 YTD

Chg Close % Chg
US gold GCZ9 1050.80 -5.50 -0.5 884.30 18.8
US silver SIZ9 17.725 -0.090 -0.5 11.295 56.9
US platinum PLF0 1346.70 -6.50 -0.5 941.50 43.0
US palladium PAZ9 325.00 2.40 0.7 188.70 72.2
Gold XAU= 1049.35 -4.65 -0.4 878.20 19.5
Silver XAG= 17.68 -0.04 -0.2 11.30 56.5
Platinum XPT= 1337.00 -7.50 -0.6 924.50 44.6
Palladium XPD= 321.00 3.00 0.9 184.50 74.0
Gold Fix XAUFIX= 1046.75 1.75 0.2 836.50 25.1
Silver Fix XAGFIX= 17.63 -17.00 -1.0 14.76 19.4
Platinum Fix XPTFIX= 1337.00 2.00 0.1 1529.00 -12.6
Palladium Fix XPDFIX= 323.00 0.00 0.0 365.00 -11.5
(Reporting by Frank Tang; Editing by Marguerita Choy)