PRECIOUS-Gold up 1 pct as Gaza sparks safe-haven buying

PRECIOUS-Gold up 1 pct as Gaza sparks safe-haven buying




TOKYO, Jan 5 (Reuters) - Gold rose about 1 percent on Monday on safe-haven buying after Israel launched a ground offensive in the Gaza Strip at the weekend, while gains in oil boosted investor appetite for commodities.
-- International calls for a ceasefire have failed to make progress. The Saturday night invasion of the Hamas-ruled Gaza Strip followed a week of Israeli bombardments from land, sea and air -- the most serious Israeli-Palestinian fighting in decades. [ID:nL4657519]
-- Spot gold rose to $881.75 an ounce, up 0.9 percent from New York's notional close of $873.20.
-- COMEX gold futures were higher in Asia after falling 0.5 percent in New York on Friday. The most active gold futures for February delivery GCG9 traded at $883.3 per ounce as of 0015 GMT, up 0.4 percent from the New York settlement.
-- Oil prices CLG9 jumped more than 4 percent on Monday, rising for a third day after Israel's offensive into Gaza and on concerns over a deepening Russian gas supply row. [O/R]
-- Gold futures on the Tokyo Commodity Exchange <0#jau:> started their first session of 2009 higher, helped by gains in the dollar versus the yen. The Tokyo market had been closed from Dec. 31 for the New Year's holiday.
-- The benchmark TOCOM December contract rose 45 yen per gram to 2,618 yen. It earlier rose as high as 2,624 yen, the highest for any benchmark since Oct. 21.
-- Cash platinum was almost flat at $946.50 an ounce, compared with $944.00 in New York.
-- Palladium rose 1 percent to $192 an ounce. Silver rose to $11.65 an ounce from $11.52. (Reporting by Risa Maeda; Editing by Chris Gallagher)