The gold market appeared quiet on Friday as traders and players seemed
happy to wait until New York opens to see how things pan out, according to one
European trader contacted by Platts on Friday.
"People are tending to hang around on the sidelines and chit-chat, but as
it's Friday, and people want to clean things up, I'd imagine they'll be some
buying on the dips," said the trader. "We'll have to wait until New York opens
to really see some activity however."
London spot gold was bid at $789.45/oz at GMT 1015, down from a Thursday
PM fix of $794.00/oz, which in turn was down from the AM fix of $806.00/mt.
The euro was bid at $1.4605 at 1015 GMT, slightly down from Thursday
afternoon.
"People are more comfortable to be long than short at the moment," said
the trader. "There's been some activity, driven mainly by the dollar/yen
relationship, but nothing comes of it. There's been no follow through
trading."