US gold futures slipped off 2005 highs early Thursday as the bruised dollar found slight support and oil eased from a recent peak, dealers said. Gold for April delivery at the COMEX division of the New York Mercantile Exchange fell $1.10 to $441.80 an ounce by 10:40 am (1540 GMT), coming down from its highest mark since December 29. The session's early range was $443.70-$440.70.
Gold was still supported, however, Aburto said, as the dollar was gyrating just above two-month lows against the euro while oil held near recent highs, fanning inflation fears.
Comments from Japan's Prime Minister raised more fears about Asian central banks diversifying their foreign exchange reserves away from the US currency.
COMEX brokers looked for gold futures to top $445 soon, followed by $450 and possibly even the $475 level after that. In early December, gold hit 16-year highs near $460 an ounce.
Dealers pegged support at $438 or so, which was a breakout point on the way up early this week.
Spot gold fetched $440.60/1.30, versus $440.00/0.70 late Wednesday. London's afternoon fix on Thursday was at $440.90.
COMEX May silver fell 13.5 cents to $7.505, moving between $7.67 and $7.495. Wednesday's peak at $7.68 was the highest price since December 8, when silver was falling from multiyear highs above $8 an ounce.
Spot silver was at $7.44/47, down from the previous close at $7.58/61. It fixed at $7.52 in London.
June palladium slid $5.45 to $202 an ounce, still simmering down after hitting a three-month high at $219 on Friday. Spot palladium was quoted at $198/202. April platinum went down $8.40 to $868 an ounce. Spot platinum touched $869/873.
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