Gold pulled higher by oil after pipeline blow-up in Nigeria
SINGAPORE, May 27 (Reuters) - Gold rose on Tuesday as oil prices climbed higher on additional supply concerns in Nigeria and the dollar remained close to a one-month low.
-- Spot gold XAU= rose to $929.50/930.50 an ounce by 0053 GMT, up from $925.20/926.60 an ounce in New York late on Friday. Markets in Britain and the United States were closed on Monday for public holidays.
-- Gold gained nearly 3 percent last week on the back of record energy prices.
-- Gold futures for June delivery GCM8 on the COMEX division of the New York Mercantile Exchange rose $4.00 an ounce to $929.70 an ounce against their Friday settlement.
-- Oil rose by more than $1.00 to above $133 against Friday's settlement in New York after rebels from Nigeria's southern Niger Delta blew up a Royal Dutch Shell (RDSa.L) oil pipeline on Monday, forcing the firm to cut production.
Nigerian Oil Minister Odein Ajumogobia said he expected 175,000 barrels per day of oil production lost as a result of militant attacks to be restored in the coming weeks, but added almost half a million barrels per day remained affected by the insecurity in the world's eighth-largest producer. [ID:nL26307548]
-- The dollar remained close to a one-month low against a basket of currencies on Tuesday, with the U.S. dollar index .DXY largely steady at 71.933, marginally up from a one-month low of 71.823 hit last week.
-- Spot platinum XPT= rose to $2,180.50/2,190.50 an ounce from $2,156.50/2,176.50 late last week.
-- The most active April Tokyo platinum futures contract <0#JPL:> was up 33 yen per gram to 7,076 yen, having settled 40 yen lower on Monday.
-- Silver XAG= edged up to $18.29/18.34 an ounce from $18.18/18.26 an ounce.
-- Spot palladium XPD= was stronger at $450/$458 an ounce.
Precious metals prices at 0053 GMT Metal Last Change Pct chg YTD pct chg Turnover Spot Gold 929.50 1.40 +0.15 11.62 Spot Silver 18.28 0.02 +0.11 23.76 Spot Platinum 2181.00 6.00 +0.28 43.49 Spot Palladium 450.00 3.00 +0.67 22.28 TOCOM Gold 3115.00 10.00 +0.32 1.80 9763 TOCOM Platinum 7078.00 35.00 +0.50 32.57 4653 TOCOM Silver 613.60 3.10 +0.51 13.42 219 TOCOM Palladium 1535.00 16.00 +1.05 13.62 302 Euro/Dollar 1.5790 Dollar/Yen 103.35
Note - TOCOM prices in yen per gram, except TOCOM silver which is priced in yen per 10 grams. Spot prices in $ per ounce. (Reporting by Maryelle Demongeot; Editing by Clarence Fernandez)
