Wednesday, Oct. 28, 2009 7:08AM EDT

Gold prices (GC-FT1,032.00-3.40-0.33%) held near $1,035 (U.S.) an ounce in Europe on Wednesday, little changed from the previous session, as the U.S. dollar steadied against the euro after hitting a two-week high earlier this week.

Further gains in the precious metal are being tempered by weakness in physical demand, with the world's largest gold-backed exchange-traded fund reporting a second daily outflow on Tuesday, dealers said.

Spot gold was bid at $1,035.30 an ounce at 1029 GMT, against $1,038.80 late in New York on Tuesday. U.S. gold futures for December delivery on the COMEX division of the New York Mercantile Exchange inched up 60 cents to $1,036.00 an ounce.

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Among other precious metals.

Spot silver (SI-FT16.37-0.17-1.03%) was bid at $16.55 an ounce against $16.65, tracking moves in gold.

Elsewhere platinum (PL-FT1,315.00-4.00-0.30%) was at $1,312.50 an ounce against $1,312, while palladium (PA-FT326.00-4.55-1.38%) was at $323 against $325.50.

The metals are being supported by supply concerns from major producer South Africa and hopes demand from carmakers, the main buyers of platinum and palladium, will improve.

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METALS-Copper falls as real demand still lacking


* Copper stocks at highest level since May

* U.S. durable goods, eyes home sales data

* Chinese demand continues to underpin prices


LONDON, Oct 28 (Reuters) - Copper prices fell on Wednesday
as a fresh rise in inventories underlined the scarcity of actual
demand.

A decline in equities also reflected investors' worries
about the outlook for global economic recovery.

Copper for three-months delivery on the London Metal
Exchange traded at $6,497.5 a tonne at 1046 GMT from a close of
$6,585 on Tuesday.

Inventories of copper at LME warehouses rose 1,075 tonnes to
371,725 tonnes, their highest level since May.

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Other Metals

Aluminium was at $1,956 from $1,985 .

Zinc traded at $2,260.5 from $2,313..

Lead was at $2,250 from $2,270.5.

Tin was at $14,810 from $15,300.

Nickel was at$18,324 from $18,650.

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	24 Hour Base Metals

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