PRECIOUS-Gold gains as dollar rally stalls, geopolitical risks buoy

martes 26 de agosto de 2014 14:49 GYT
 

* Buy-stops fuel bullion's rise

* Gold prices lifted as momentum of dollar rally slows

* U.S. durable goods orders up record 22.6 percent in July (New throughout, updates prices; adds byline, NEW YORK dateline)

By Chris Prentice and Clara Denina

NEW YORK/LONDON, Aug 26 (Reuters) - Gold rose on Tuesday after a pause in the dollar rally prompted chart-based buying, but pared gains as European stimulus hopes and strong U.S. data pushed investors to equities.

Spot gold hit a session high at $1,290.80 an ounce in early trade as stop orders were triggered on a break of the 200-day moving average just above $1,280. The contract was up 0.6 percent at $1,283.57 by 2:26 p.m. EDT.

December U.S. gold futures closed up $6.30, or 0.5 percent, at $1,285.20 an ounce.

Bullion continued to track the U.S. dollar. A stronger greenback weighs on dollar-traded commodities, making them more expensive to holders of other currencies.

"The dollar's rally has started to stall. That has helped gold out a bit," said Stephen Platt, an analyst at futures brokerage Archer Financial Services.   Continuación...