US MIDDAY: gold and copper down

The following are New York midday prices and market updates for precious metals and copper:
GOLD: COMEX February gold at 11:59 am EST off 90 cents at $423.90 an ounce, cooling after setting new 15-year high at $431.50 overnight as dollar fell to a new low at $1.2812 per euro.
Gold market seen in need of correction after 20 percent 2003 rally and strong gain to start 2004.
But weak dollar and fears of more attacks seen keeping the safe-haven in vogue. COMEX estimated 11:00 am gold volume was a moderate 37,000 contracts.
Spot gold fetched $423.25/3.95, Monday's close at $421.70/2.50. London bullion dealers fixed afternoon reference price at $424.40.
SILVER: COMEX March silver continued to new 5-1/2 year high at $6.475, and was quoted at $6.325 up 8.0 cents.
The session low was $6.215. Silver the best performing precious metal in to start 2004, participating in both precious and base metals rallies.
Volume a decent 11,000 lots. Spot silver trades at $6.29/31, versus the close at $6.14/16. The London fix was at $6.28.
PLATINUM GROUP METALS: NYMEX April platinum up $6.50 at $840.00 an ounce, near a contract and 23 year high at $845.
Spot platinum trades at $843.00/848.00 an ounce. March palladium up 20 cents at $205.00 an ounce. Spot was worth $196.00/201.00 an ounce.
COPPER: COMEX March copper sinks 2.20 cents to $1.0650 a lb at 11:54 am EST, trading from a new life-of-contract peak and 6-1/2 year high at $1.0960 to $1.0590.
Spot January up 0.70 cent at $1.09. Players pocket profits after three straight sessions of gains, with fund liquidation taking the lead, but traders see Chinese buying, a weak US dollar and steady stock market lending support to the market. COMEX turnover was about 9,000 lots at 1100 EST.