Gold edges higher in holiday trade

Tuesday, December 26, 2006, 10:18 [IST]

TAIPEI, Dec 26 (Reuters) Gold edged up on Tuesday as holidays in major metals markets kept trading thin and as the U.S. currency held near a two-month peak against the yen.

-- Spot gold was at 3.10/624.10 an ounce at 0034 GMT, up from the London close of 0.00/621.50.

The New York market resumes metals trading on Tuesday.

Traders in the London bullion market return a day later on Wednesday as Tuesday is a holiday in Britain.

-- Benchmark December 2007 gold futures <0#JAU:> on the Tokyo Commodity Exchange added 16 yen per gram to 2,410 yen per gram.

-- The dollar held near a two-month peak against the low-yielding yen at 118.90 yen , just off the peak of 118.97 yen hit on Friday.

-- Silver also ticked up to .63/2.70 an ounce from the closing bid of .54.

-- Palladium was roughly steady at 2.00/7.00 an ounce from a closing bid of 3.

Reuters MQA VP0715

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