960404

Bullion, platinum

mostly firmer in

Tokyo

TOKYO: Yen-denominated gold and platinum futures ended a lacklustre day mostly firmer on Thursday, following firmer gold and platinum prices in New York overnight, traders said.

Gold prices ranged from one yen per gram lower to six yen firmer with benchmark February finishing up one at 1,349.

The market lacked incentives ahead of the Easter holidays overseas, they said. "Sporadic buying below 1,350 yen by private investors was detected while only one trade house sold futures, otherwise the market was almost dead," a senior dealer at a foreign bank said.

Spot gold was quoted at $394.15/394.45 per ounce at the Tokyo close, against $393.80/394.30 in New York on Wednesday.

Activity in the spot market was quiet due partly to the market holiday in Hong Kong.

"Spot gold is expected to be supported at around $393 level in the near-term," the dealer said.

Platinum futures ranged from unchanged to four yen per gram higher. Benchmark February stood up two at 1,394.

Activity was mainly dominated by inter-month trade by trade houses amid slightly bearish sentiment, the traders said.

Silver and palladium futures ended narrowly mixed with little sign of movement for most of the day.

Silver futures ranged from 3.6 yen per 10 grams lower to 2.4 firmer. Benchmark February ended down 0.2 at 190.3.

Palladium futures ranged from one yen per gram weaker to one firmer. Benchmark February ended unchanged at 477 yen.-Reuter