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US gold ends 2 pct down, near $950/oz on dlr rally

 NEW YORK, June 5 (Reuters) - Gold futures fell toward $950
an ounce on Friday, losing 2 percent as a better-than-expected
U.S. jobs report sparked a dollar rally and boosted hopes for
an economic recovery, denting gold's appeal as a safe haven.
 For the latest detailed report, click on [GOL/].
 GOLD
 * August GCQ9 settled down $19.70, or 2 percent, at
$962.60 an ounce on the COMEX division of the New York
Mercantile Exchange.
 * Ranged from $953.80 to $985, which marked the weakest
price since May 28.
 * Gold tumbled following news that U.S. employers cut
345,000 jobs last month, the fewest since September, a sign
that the economy's severe weakness was diminishing.
[ID:nN05274048]
 * The good employment figure lessened the need for
flight-to-quality demand in gold, and a rising interest rate
environment was negative to non-interest bearing gold - Bill
O'Neill, managing partner at LOGIC Advisors.
 * Sell-stops and pre-weekend selling in gold futures were
triggered after the U.S. nonfarm payroll report, which was not
inflationary and failed to spur bullion buying - George Gero,
vice president of RBC Capital Market Global Futures.
 * Bullion was pressured heavily as the dollar rallied, on
track for its largest weekly gain in nearly two months against
a basket of major currencies, after the bullish jobs data.
[USD/]
 * The dynamics of a bull market is still in place because
of longer-term currency debasing amid liquidity addition and
potential inflation - O'Neill.
 * COMEX gold open interest rises above the 400,000 level,
up 5,776 at 401,699 lots as of June 4, indicating rising
investment interest in gold - traders.
 * Gold could weaken further, as the metal has corrected
sharply after it approached the $1,000 level each time in the
past two years - analysts.
 * COMEX estimated final volume at a heavy 146,101 lots.
 * Gold/oil ratio at 13.95, lower than the 14.14 of the
previous session.
 * Spot gold XAU= traded at $960 at 2:07 p.m. EDT (1807
GMT), down 2 percent from its late Thursday quote in New York.
 * London gold fix XAUFIX= $962 an ounce.
 SILVER
 * July SIN9 ended down 50.7 cents, or 3.2 percent, at
$15.388 an ounce, tracking gold's sharp decline.
 * Ranged from $15.160 to $15.980.
 * COMEX estimated final volume at a busy 40,924 lots.
 * Spot silver XAG= was at $15.32 an ounce, down 3.3
percent from its previous finish.
 * London silver fix XAGFIX= at $15.650 an ounce.
 PLATINUM
 * July PLN9 finished down $7.10 at $1,286.20 an ounce due
to a dollar bounce after reaching above $1,300 in the previous
session.
 * Platinum prices affected by an uncertain auto industry,
as the global car industry accounts for 60 percent of total
platinum demand for use in automobile catalytic converters.
 * Spot platinum XPT= at $1,271.50 an ounce, down 1.5
percent from its late Thursday quote.
 PALLADIUM
 * September PAU9 closed up $4.40, or 1.7 percent, at
$259.80 an ounce on thin buying.
 * Spot palladium XPD= was at $257 an ounce, up 1.8
percent from its previous finish.
                      Close  Change   Pct     2008      YTD
                                      Chg     Close Pct Chg
US gold       GCQ9     962.60  -19.70  -2.0    884.30    8.9
US silver     SIN9      15.39   -0.51  -3.2     11.30   36.2
US platinum   PLN9    1286.20   -7.10  -0.5    941.50   36.6
US palladium  PAU9     259.80    4.40   1.7    188.70   37.7
Prices at 2:07 p.m. EDT (1807 GMT)
Gold          XAU=     960.00  -19.10  -2.0    878.20    9.3
Silver        XAG=      15.32   -0.53  -3.3     11.30   35.6
Platinum      XPT=    1271.50  -19.00  -1.5    924.50   37.5
Palladium     XPD=     257.00    4.50   1.8    184.50   39.3
Gold Fix      XAUFIX=  962.00   -8.75  -0.9    836.50   15.0
Silver Fix    XAGFIX=  15.650   0.345   2.3    14.760    6.0
Platinum Fix  XPTFIX= 1275.00    0.00   0.0   1529.00  -16.6
Palladium Fix XPDFIX=  257.00    0.00   0.0    365.00  -29.6
 (Reporting by Frank Tang; Editing by Lisa Shumaker)





























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