* Gold falls, Vietnam grants more gold import quotes
* U.S. markets closed for Thanksgiving holiday
(Updates prices, adds quotes)
By Lewa Pardomuan
SINGAPORE, Nov 25 (Reuters) - Gold edged down in thin
trade on Thursday after encouraging U.S. jobless claims data
calmed some worries about economic growth, but concerns over
tensions on the Korean peninsula could offer some support.
Bullion barely reacted to news that Vietnam's central bank
has granted additional quotas for domestic companies to import
gold between now and the year end, but dealers noted buying on
dips from consumers in Asia. []
Spot gold eased $4.42 to $1,369.29 an ounce by 0240
GMT - well below a lifetime high around $1,424 struck in early
November. It had hit an intraday low around $1,367 an ounce.
U.S. gold futures fell $4.5 to $1,368.5 an ounce.
U.S. markets are shut on Thursday for the Thanksgiving
holiday.
"I would say sentiment is still bullish. The conflict
between North and South Korea is not going be solved within a
short period of time," said Ronald Leung, director of Lee
Cheong Gold Dealers in Hong Kong.
"It will take a bit of time. There may be more buying at
below $1,370."
North Korea warned of additional military attacks if South
Korea makes "reckless military provocations again," its
official media said on Thursday. []
The United States says it believes North Korea's actions
were an isolated act tied to leadership changes in Pyongyang,
and many experts say the North carried out the shelling to
burnish the image of the inexperienced and little-known
younger Kim.
In the currency market, the euro earned a reprieve on
Thursday, lifting off a two-month trough after three straight
sessions of falls, but with the euro zone debt crisis still
festering any rebound may well prove short-lived.
U.S. initial jobless benefits claims fell to their lowest
level in more than two years last week while consumer spending
rose for a fourth straight month in October, fueling hopes the
economic recovery is strengthening. []
"I would say there's a mixed bag of trading today. We see
sales of scrap but at the same time, there's also physical
buying. Honestly, consumers don't want to get short. Each
time, they will just buy on dips," said a dealer in Singapore.
"But the U.S. holiday deters people from doing much.
There's some light buying from Indonesia and we did see buying
from India yesterday," said the dealer.
The gold market in India, top consumer of the metal, is
still in the midst of its busy season after the Dhanteras and
Diwali festivals earlier this month as many weddings are to
take place till December, spurring at least some demand for
the metal that plays an important role in social functions.
U.S. crude futures firmed on Thursday, extending a rally
from the day before on optimism about the U.S. economic
recovery, but the Thanksgiving holiday in the United States
and concerns over tensions on the Korean peninsula may limit
further gains.
Precious metals prices at 0240 GMT
Metal Last Change Pct chg YTD pct chg Turnover
Spot Gold 1369.29 -4.42 -0.32 24.97
Spot Silver 27.42 -0.13 -0.47 62.92
Spot Platinum 1651.49 -8.50 -0.51 12.58
Spot Palladium 691.00 -3.50 -0.50 70.41
TOCOM Gold 3685.00 -2.00 -0.05 13.07 37834
TOCOM Platinum 4481.00 2.00 +0.04 2.28 6735
TOCOM Silver 73.80 -0.10 -0.14 42.75 762
TOCOM Palladium 1856.00 -13.00 -0.70 59.31 396
Euro/Dollar 1.3316
Dollar/Yen 83.47
TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Editing by Himani Sarkar)
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