G0LD

Gold prices move lower as a stronger USD weighs on
the yellow metal, erasing modest gains made earlier in the session. Spot gold
is trading at $1,568.10 a troy ounce, down $6.20 from its previous settlement
and off an earlier high of $1,576.57/oz. The EUR/USD is at 1.2656 from 1.2697
late Thursday in New York; dollar-priced commodities become more expensive to
investors holding other currencies when the greenback gains. Later in the
session, gold is likely to continue tracking the EUR/USD, but will also remain
sensitive to headlines from the euro zone. Given its recent correlation with
risk, bearish news is likely to spur more selling. In a report, bullion refiner
MKS tips gold's next support levels at $1,547/oz and then at $1,525/oz.