Gold futures retreated below $1,090 an ounce on Friday as the dollar rallied against the euro on fiscal worries about Greece, and as China's raising bank reserve requirements took a toll on investor sentiment. COMEX April gold down $8.40 at $1,086.30 an ounce at 10:29 am EST (1529 GMT). Range $1,078.10 to $1,097.70.
Bullion pressured by dollar rally on persistent Greek woes, China's surprise monetary tightening. Renewed macroeconomic concerns, China's move weighed upon prices this morning, said Barclays Capital. Gold down but off lows; dollar pares gains against euro after US consumer sentiment data. Gold-to-oil ratio at 14.84, against 14.60 in the previous session.
COMEX estimated 10 am volume at 94,068 contracts. Spot gold at $1,085.10, against $1,095.85 in late New York business in the previous session. March silver down 24 cents, or 1.5 percent, at $15.350 an ounce, tracking gold's decline. Range $15.210 to $15.740. COMEX estimated 10 am volume at 20,261 lots. Spot silver at $15.32 an ounce, compared with $15.18 late in the previous session in New York.
April platinum down $14.40 at $1,504.90 an ounce on broad-based industrial metals weakness led by copper. ETFS Platinum's holdings unchanged from previous day at 264,774 ounces as of February 11; ETFS Palladium's holdings also flat at 429,813 ounces. Spot platinum at $1,497.50 an ounce. March palladium down $3.45 at $415.50 an ounce, tracking weaker platinum. Spot palladium at $412 an ounce.