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US gold drops as dollar trims gains after jobs

 NEW YORK, Jan 8 (Reuters) - New York gold futures turned
lower in choppy trade on Friday as the dollar erased initial
gains against the euro following a report that showed U.S.
employers unexpectedly cut jobs in December.
 For the latest detailed report, click on [GOL/].
 GOLD
 * Gold for February delivery GCG0 down $7.30 at $1,126.60
an ounce at 10:15 p.m. EST (1515 GMT) on the COMEX division of
the New York Mercantile Exchange.
 * Range from $1,119.50 to $1,140.
 * Gold trading in a more than $20 range due to volatile
currency movements.
 * February contract initially rose as the dollar dropped
sharply following disappointing U.S. jobs data.
 * Nervousness about recovery, possible timing of
interest-rate increases, end of quantitative easing supporting
gold - Mark O'Byrne at GoldCore.
 * After early declines, dollar trims gains and nearly
unchanged against a basket of major currencies. [FRX/]
 * Initial gains in gold futures driven by traders who
quickly covered previously sold positions - George Gero at
RBC.
 * Gold/oil ratio at 13.69, against previous session's
13.72.
 * COMEX estimated 10 a.m. volume at 117,783 lots.
 * Spot gold XAU= at $1,128 an ounce, against the previous
session's late quote of $1,131.40.
 * London afternoon gold fix XAUFIX= at $1,126.75.      
 SILVER
 * March silver SIH0 up 0.5 cent at $18.350 an ounce, as
market looking for a clear direction.
 * Range from $18.055 to $18.490 -- a four-week high.
 * COMEX estimated 10 a.m. volume at 21,207 lots.
 * Spot silver XAG= at $18.33 an ounce, versus the
previous session's late quote at $18.22 an ounce.
 * London silver fix XAGFIX= at $18.12.
 PLATINUM
 * NYMEX April platinum PLJ0 up $2.10 at $1,561.50 an
ounce on positive sentiment on the launch of the first U.S.
platinum and palladium exchange-traded funds.
 * ETF Securities Ltd's first U.S. platinum and palladium
ETFs started trading on Friday with buying interest seen in
early sessions. [ID:nN08363435]
 * Spot platinum XPT= was at $1,554 an ounce.
 PALLADIUM
 * March palladium PAH0  up $1.40 at $425.95 an ounce on
strong investment buying.
 * Spot palladium XPD= was at $422.50 an ounce.
 (Reporting by Frank Tang; editing by Jim Marshall )






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