Platinum, palladium prices off multi-month highs, gold listless

Feb 05 2013, 11:08 IST
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SummaryPlatinum and palladium prices fell on Tuesday from multi-month highs.

Dealers in Hong Kong.

"People are mostly waiting for more data from the United States to assess how the economy is and whether quantitative easing will continue."

Monetary stimulus was a key driver of gold's rally in the last few years, and an improving U.S. economy has prompted concern the Federal Reserve might curtail its bond-buying programme.

Spot gold traded little changed at $1,673.50 an ounce. U.S. gold edged down 0.1 percent to $1,674.50. Technical analysis suggested spot gold would remain neutral in a range between $1,657.54 and $1,681.70 during the day, said Reuters market analyst Wang Tao.

The dollar index rose to a one-week high, as a rally in the euro currency stalled on growing worries about political uncertainty in Spain and Italy.

A stronger greenback weighs on commodities priced in dollars.

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