COMEX gold was firm early Wednesday, settled in a small range as investors awaited a rich nations finance ministers meeting Friday for possible comments on the strong euro or renewal of a central bank gold sales pact.
In the run-up to the two-day Group of Seven meeting in Boca Raton, Florida, traders also kept Thursday's European Central Bank policy meeting in focus, in case it issues comments, or even lowers interest rates, to curb the rise in the euro, which threatens euro-zone export growth.
At 9:40 am EST, April gold was up 50 cents at $400.40 an ounce, trading from $399.40 to $401.70.
The safe-haven buying Tuesday after the poison ricin was found in a US Senate building faded.
Spot gold was quoted at $399.10/70, up from $398.40/9.15 late Tuesday. London's morning fix was $399.60.
The euro was fractionally easier at $1.2520/23. Gold traders continued to take cues from currency movements after the euro's rise to a lifetime high at $1.2898 last month helped lift gold above $430 an ounce for the first time in 15 years.
COMEX March silver was off 1.3 cents at $6.11 an ounce, in a $6.145-$6.07 range. Spot was quoted at $6.09/11, off from the close at $6.10/12. The fix was at $6.08.
NYMEX April platinum was off $6.30 at $820 an ounce. Spot fetched $823.00/828.00. March palladium was up $2.80 at $240.00. Spot was priced $235.00/240.00.
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