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1st LD Writethru: Gold up on weaker U.S. equities, dollar

Xinhua, January 10, 2015 Adjust font size:

Gold futures on the COMEX division of the New York Mercantile Exchange rose on Friday as the U.S. dollar and U.S. equities fell.

The most active gold contract for February delivery rose 7.6 U. S. dollars, or 0.63 percent, to settle at 1,216.10 dollars per ounce.

Gold fell as the Dollar Index Spot fell by 0.42 percent to 91. 9770 as U.S. equities showed weakness. The index is a measure of the dollar against a basket of other major currencies and analysts believe the dollar and the precious metal typically move in opposite directions.

Traders are also worried about the political situation in Greece that could lead to the country exiting the eurozone, boosting demand for gold as a safe haven.

Gold's rise was capped by an upbeat report from the U.S. Department of Labor showing better-than-expected job growth. The Employment Situation report released on Friday showed non-farm payrolls increased to 252,000 in December after an additional increase from a revised 353,000 in November.

Silver for March delivery increased 3.4 cents, or 0.21 percent, to close at 16.419 dollars per ounce. Platinum for April delivery gained 7.1 dollars, or 0.58 percent, to close at 1,230.10 dollars per ounce. Endite