gold prices in singapore Gold falls after hitting record, silver off 30-yr pea Stock Market Today Shares, gold , mortgage rates

gold price in singapore Gold falls after hitting record, silver off 30-yr pea : SINGAPORE, Dec 7 (Reuters) - Gold ticked lower on Tuesday as speculators booked profits after sending the price to another record, but worries over Europe's sovereign debt problems and speculation the U.S. Fed will extend monetary easing helped cushion the fall. Silver flirted with $30 an ounce level, pausing after reaching a 30-year high on Monday. Investors shrugged off news that China, the world's second-largest gold consumer, may raise interest rates this weekend, saying the move had been widely anticipated to cool inflation. [ID:nTOE6B6003]

Spot gold fell $2.45 to $1,420.40 an ounce by 0213 GMT after hitting a record around $1,427 on Monday in thin trade."There doesn't seem to be any follow through buying, so you can say gold attracts some year-end profit taking. This is a sign of consolidation," said Ronald Leung, director of Lee Cheong Gold Dealers in Hong Kong.

"There's no change in sentiment...cautiously bullish."

A bullish target at $1,435 an ounce for spot gold is intact as the rise to a record high in the previous session confirmed an extension of the current wave development, according to Wang Tao is a Reuters market analyst for commodities and energy technicals. For a 24-hour gold technical outlook:

Gold's role as a hedge against inflation got a boost after Federal Reserve Chairman Ben Bernanke said on Sunday the bank could buy more than the $600 billion in U.S. government bonds it has committed to purchase. [ID:nN05271909] Silver hardly changed after rising to a 30-year high at $30.25 an ounce on Monday on European debt woes. Dealers in Hong Kong said silver was catching up with gold, while those in Tokyo said the metal was supported by physical buying from the industrial sector.

The world's largest silver-backed exchange-traded fund,iShares Silver Trust , said its holdings rose to10,816.69 tonnes by Dec 6 from 10,778.68 on Dec 2. The holdings jumped to an all-time high of 10,893.68 tonnes on Nov 23. [ID:nL3E6N3006]

For BUY OR SELL, click: [ID:nN06543461]

U.S. gold futures for February rose $4.9 an ounce to at $1,421 an ounce.

In other markets, the euro was under pressure early in Asia on Tuesday, having fallen to a record low against the Australian dollar, as the euro zone appeared split on how to tackle the region's debt crisis. Japan's Nikkei average edged down on Tuesday, with the yen's recent firmness against the dollar weighing on shares of
exporters.

Precious metals prices at 0213 GMT                    
Metal             Last    Change  Pct chg  YTD pct chg  Turnover
Spot Gold        1420.40   -2.45   -0.17     29.63    
Spot Silver        30.06   -0.08   -0.27     78.61    
Spot Platinum    1709.99  -10.51   -0.61     16.56    
Spot Palladium    753.47   -2.00   -0.26     85.81    
TOCOM Gold       3773.00   -8.00   -0.21     15.77        35739
TOCOM Platinum   4588.00  -69.00   -1.48      4.72        10423
TOCOM Silver       79.90   -0.10   -0.12     54.55         1518
TOCOM Palladium  2013.00  -65.00   -3.13     72.79          979
Euro/Dollar       1.3310                              
Dollar/Yen         82.45