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PRECIOUS-Gold inches up, aided by platinum's recent gains

 * SPDR Gold holdings fall on Mon, first time since Dec 8
 * Spot platinum off 16-mth high, palladium hits 17-mth high
 TOKYO, Jan 5 (Reuters) - Gold inched up on Tuesday, retaining
some of the recent momentum that saw it rise more than 2 percent
the previous day, as the dollar extended recent declines and
buying interest at or below $1,100 per ounce remained strong.
 Spot gold XAU= was at $1,122.75 an ounce as of 0629 GMT, up
0.2 percent from New York's notional close of $1,121.00.
 It earlier reached a peak of $1,123.40 an ounce, its highest
since Dec. 17, after rising decisively above $1,100 on the first
trading day of 2010 on Monday, when an oil price rally and a
decline in the greenback spurred heavy fund buying.
 Shuji Sugata, research team manager at Mitsubishi Corp
Futures Ltd, said a rally in platinum this week added to the
yellow metal's strength.
 Spot platinum XPT= stayed well above $1,500 per ounce after
it jumped to a 16-month peak of $1,523 on Monday.
 "Growing hopes for an economic recovery in the U.S. are
boosting prices of industrial commodities, such as oil and
platinum, and the strength of platinum has been supporting gold
recently," Sugata said.
 Previously, gold was bought as a safe-haven asset due to the
low visibility of the U.S. economy. But this factor has been
fading, and platinum is helping lift gold, he said.
 U.S. gold futures for February delivery GCG0 traded at
$1,123.50 an ounce, up 0.5 percent from the previous close.
 In the currency market, the euro rose 0.3 percent from late
U.S. trade at $1.4450 EUR= after advancing 0.6 percent the
previous day. The dollar index .DXY, a gauge of the U.S.
currency's performance against six other major currencies, was
down 0.4 percent.
 The world's largest gold-backed exchange-traded fund, SPDR
Gold Trust GLD, said its holdings fell 4.877 tonnes or 0.4
percent to 1,128.745 tonnes on Monday, the first fall since Dec.
8. [GOL/SPDR]
 Among other precious metals, spot palladium XPD= rose to
$422 per ounce, hitting its highest since July 2008 for the
fourth straight trading day.
 Platinum group metals prices have benefitted from hopes for
an economic recovery in 2010 and expectations that platinum and
palladium-backed exchange traded products will shortly be
launched in the United States.
 ETF Securities said in a U.S. regulatory filing on Monday
that a financial firm, which is also its lead market maker, has
bought shares of its proposed first-ever U.S. platinum
exchange-traded fund. [ID:nTOE6030AU]
 Precious metals prices at 0635 GMT
 Metal             Last    Change  Pct chg  YTD pct chg  Turnover
 Spot Gold        1123.50    2.50   +0.22      2.54
 Spot Silver        17.57    0.02   +0.11      4.40
 Spot Platinum    1515.00   -6.00   -0.39      3.27
 Spot Palladium    421.50    3.50   +0.84      3.95
 TOCOM Gold       3327.00   21.00   +0.64      2.09        84654
 TOCOM Platinum   4487.00   38.00   +0.85      2.42        26163
 TOCOM Silver       52.50    1.30   +2.54      1.55         1020
 TOCOM Palladium  1249.00    4.00   +0.32      7.21          955
 Euro/Dollar       1.4459
 Dollar/Yen         91.73
 TOCOM prices in yen per gram and spot prices in $ per ounce.
(Editing by Joseph Radford)






































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