December 23, 2006	Saturday	Zilhaj 01, 1427

LONDON, Dec 22: Gold was rangebound in thin European trade on Friday, with many dealers already away for year-end holidays. Spot gold hit an intraday high of $620.00 an ounce before being quoted at 619.40/620.30 by 1038 GMT, $1.20 higher than Thursday's New York close of $618.20/619.20.

Many players continue to sit on the sideline with support seen down at $617/oz and $613/oz with resistance at $624/oz and $630/oz, UBS metals strategist Robin Bhar said in a note.

Gold dropped more than $3 in the US market after falling crude oil prices triggered liquidation.—Reuters