Tuesday, May 18, 2010

Gold Trades Little Changed After Easing From Last Week’s Record

May 18 (Bloomberg) -- Gold traded little changed in Asia after falling yesterday as near-record prices prompted some investors to sell the precious metal.

Gold for immediate delivery rose 0.2 percent to $1,224.85 an ounce at 8:10 a.m. in Sydney. It fell 0.9 percent yesterday, after reaching a record $1,249.40 on May 14.

June futures fell 0.3 percent to $1,224.50 an ounce. The contract closed barely changed yesterday after reaching a record $1,249.70 on May 14.

Platinum for immediate delivery fell 0.3 percent to $1,665.5 an ounce, its fourth straight decline. Silver was little changed at $18.90 an ounce after falling 2.3 percent yesterday. Palladium was untraded after slumping 3.9 percent yesterday, its biggest one-day decline in almost two weeks.