Gold leads precious metals complex on upward course

New York (Platts)--27Dec2005

Gold is leading the precious metals complex on a rebound on the New York
exchanges Tuesday morning, as traders returned from their holidays in a
bullish mood. The dollar has been slightly weaker against the euro, but that
has not been the chief reason for the rebound, which is apparently renewed
investor interest in gold, specifically, and precious metals in general.
Trading has been relatively heavy, given the fact that the European markets
are closed for the extended Christmas holidays.

     On the COMEX, the nearby February gold futures contract rose $3.80 to
$509.10/oz at 10:24am, and this helped the March silver contract to rally
12cts to $8.765/oz. And on the NYMEX, the nearby January platinum futures
contract rose $4.70 to $970/oz at 9:47am and March palladium gained $3.95 to
reach $261.50/oz.

     With the bull market trend continuing, precious metals appear to be all
set to lay a solid foundation to move into record territory in the new year.

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