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US gold closes strong as dollar drops, oil rallies

 NEW YORK, July 30 (Reuters) - New York gold futures ended
with healthy gains on Thursday, pushing up with other
commodities, especially rebounding oil prices, after a string
of better corporate earnings results increased investor risk
appetite and hurt the dollar versus euro, traders said.
 For the latest detailed report, click on [GOL/].
 GOLD
 * August gold GCQ9 finished up $7.70, or 0.83 percent, at
$934.90 an ounce on the COMEX division of the New York
Mercantile Exchange.
 * Trade held within an inside range between $928.40 and
$937.0 an ounce.
 * Support resides at a two-week low of $924.30 and weak
resistance remains around $940 an ounce - chartists.
 * Failed attempt to take out support during Wednesday's
sell-off provided firm underpinning on Thursday - chartists.
 * First delivery day in the August contract begins Friday
when December gold contract moves into the benchmark position -
floor traders.
 * Dollar slid against major currencies, helping drive gold
prices up along with other commodities - traders.
 * Dollar tumbled as a rebound in global stocks dimmed the
greenback's attractiveness as a safe-haven. [USD/]
 * U.S. stocks jump on a string of solid corporate profit
reports. [.N]
 "Gold found support below the $930 area along with weakness
in the dollar, which supported the entire commodity complex,"
said David Meger, Alaron Trading metals analyst in Chicago.
 * The value of dollar-denominated gold tends to increase in
overseas markets when the U.S. currency declines.
 * Oil prices jump 5 percent to near $67 a barrel, as
corporate earnings and economic data sparked fresh optimism
that the recession has hit bottom. [O/R]
 * Oil's increase helps lift other commodities, including
gold and other precious metals - traders.
 * COMEX estimated final gold volume at 89,394 lots,
according to exchange data.
 * Spot gold XAU= advances to $933.20 an ounce in late New
York business from $928.10 an ounce in late dealings on
Wednesday.
 * London afternoon gold fix XAUFIX= was set at $932.50 an
ounce.
 SILVER
 * September silver SIU9 jumped 22.70 cents, or 1.71
percent, to settle at $13.4850 an ounce.
 * Inside range reached up to $13.58 from a $13.26 low.
 * Silver rallied with gold and other metals - traders.
 * COMEX estimated final silver volume at 18,203 lots.
 * Spot silver XAG= was up at $13.45 an ounce from $13.25
an ounce in Wednesday's late quote.
 * London silver was fixed XAGFIX= falls to $13.40 an
ounce.
 PLATINUM
 * October platinum PLV9 finished $16.80 higher at
$1,189.0 an ounce.
 * Spot platinum XPT= increased to $1,180.0 an ounce from
$1,170.50 an ounce in late Wednesday trade.
 PALLADIUM
 * September palladium PAU9 was $3.85 higher at $259.35 an
ounce, in line with platinum gains.
 * Spot palladium XPD= was quoted higher at $257 an ounce
than $251.0 an ounce in late Wednesday business.
 (Reporting by Carole Vaporean, Editing by Lisa Shumaker)


























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