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UPDATE 4-Gold ends lower on dollar rise, building new base

 * Gold extends losses, building new base at $820 an ounce
 * U.S. Mint resumes Eagles coin orders on limited basis
 * Strong physical demand should help prices
 (Recasts, updates with quotes, closing prices, market activity,
changes dateline from SINGAPORE)
 NEW YORK, Aug 25 (Reuters) - Gold ended lower in quiet
trade on Monday as a dollar rise against the euro prompted
profit taking, but the metal could build on its recent base at
$820 an ounce, analysts said.
 Bullion could find support at above $800 an ounce, with the
help of buying from jewelers ahead of the festive seasons
especially in main consumer, India. Dealers also reported tight
supply for gold bars in Singapore and Hong Kong.
 Gold XAU= ended at $820.20/821.40 by New York's last
quote at 2:15 p.m., up from $827.00/828.60 an ounce late on
Friday, but was off nine-month lows of around $773 hit in
mid-August.
 Earlier on Monday, the metal dipped to $816.45, down more
than 1 percent.
 Bullion weakened as the dollar strengthened against the
euro after data showed that U.S. existing home sales rose in
July. [USD/]
 "I think gold is finding its base here. It's mostly
technical support holding prices above $820. Any dips below
$820 are seen as a buying opportunity," said Carlos Sanchez,
precious metals analyst at the CPM Group in New York.
 Sanchez also said that sharply lower U.S. stocks kept gold
from falling further as investors turned to bullion because of
its safe-haven appeal.
 U.S. stocks were 2 percent lower in late trade, dragged by
worries about the health of financials.
 In addition, supply fears eased after the U.S. Mint said it
must allocate the American Eagle bullion coins among dealers to
cope with overwhelming demand as it resumed taking orders for
the popular coins. [ID:nN25396689]
 U.S. gold futures are also showing a pullback in net long
positions held by speculators as bullion weakened from its
recent highs. The U.S. Commodity and Futures Trading Commission
said that noncommercial net longs in gold dropped by 14 percent
last week. [ID:nN22566260]
 U.S. gold contract for December delivery GCZ8 settled
down $7.80 at $825.70 an ounce on COMEX division of the New
York Mercantile Exchange.
 JEWELRY DEMAND PICKS UP
 Demand for gold in India normally picks up ahead of Diwali,
the Hindu festival of lights in October, as people buy gold for
auspicious reasons. Also, many Hindu marriages are likely to be
held between September and November, said dealers.
 "I guess the $800 psychological-level support will come into
play again. I believe physical demand for gold is likely to
remain good and perhaps the shortage may support the market a
bit," said Adrian Koh, analyst at Phillip Futures in Singapore.
 "If we start moving below $810, we will probably move to
$800 very soon and perhaps gold could retest to the $770s
again," he said.
 Spot platinum XPT= ended lower at $1,423.00/1,443.00 an
ounce, down from $1,425.50/1,445.50 an ounce late in New York
on Friday but was off an 11-month low around $1,296 hit last
week.
 "Near-term support for platinum should come in around the
$1,350-level, and if we do move below those levels, we could see
another bout of selling towards $1,250 to $1,300," said Koh of
Phillip Futures.
 In industry news, South Africa's Northam Platinum NHMJ.J
posted a 12 percent rise in earnings for the year ending in
June, on high metal prices, despite weaker output. The miner
forecast a rise in output and prices for the current financial
year. [ID:nLP533764]
 Spot palladium XPD= finished slightly lower at
$284.00/292.00 from late New York levels at $285.50/293.50 an
ounce. Silver XAG= closed lower at $13.36/13.42 an ounce from
$13.33/13.41 an ounce late in the U.S. market on Friday.
 (Additional reporting by Lewa Pardomuan in Singapore)





































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