SINGAPORE, Dec 24 (Reuters) - Gold bounced on Friday after
a drop to a 1-week low the previous day attracted bargain
hunters, but thin trade ahead of the Christmas break and a
volatile euro could push prices in either direction.
FUNDAMENTALS
* Spot gold rose $2.11 an ounce to $1,382.00 an
ounce by 0031 GMT, having dropped to as low as $1,372.05 an
ounce on Thursday as the euro rebounded. Gold was well below a
historical high of around $1,430 hit earlier this month.
* U.S. gold futures for February fell $6.9 an ounce
to $1,380.5 an ounce ahead of the long Christmas weekend in
the United States.
* The world's largest gold-backed exchange-traded fund,
SPDR Gold Trust , said its holdings slipped 1,284.973
tonnes by Dec. 23 to from 1,288.616 tonnes on Dec. 22.
MARKET NEWS
* The euro held its ground against the Swiss franc early
in Asia on Friday after having staged a rebound overnight in
what traders said was a correction following a series of
record lows this week.
* Japan's Nikkei average opened lower on Friday, with a
stronger yen against both the dollar and euro after more
ratings downgrades of European countries weighing on shares in
holiday-thinned trade.
(GMT) DATA/EVENTS
-- U.S. market holiday
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Precious metals prices at 0031 GMT
Metal Last Change Pct chg YTD pct chg Turnover
Spot Gold 1382.00 2.11 +0.15 26.13
Spot Silver 29.35 0.04 +0.14 74.39
Spot Platinum 1721.99 5.49 +0.32 17.38
Spot Palladium 752.00 1.51 +0.20 85.45
Euro/Dollar 1.3115
Dollar/Yen 83.09
(Reporting by Lewa Pardomuan; Editing by Himani Sarkar)
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