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Gold slightly firmer

NEW YORK: COMEX gold was barely firmer in dull midday trade, after early gains evaporated when prices failed to push decisively through nearby resistance levels, traders said.

Analysts said a slight lowering today of Germany's repo rate had been widely expected, while the Bundesbank was considered likely to hold the discount rate steady at Thursday's council meeting.

At 1245 EDT, the active December contract was up $0.10 at $390.50 an ounce, traded between $391.20 and $390.00.

Dealers quoted bullion at $384.80/$385.30.

Analysts also said there were no surprises in a 15.5 percent rise in world gold demand in the second quarter from the same period last year, as indicated by figures released this morning by the World Gold Council.

The cash market continued to face stiff resistance at $385 an ounce, with support pegged at $382.-Reuter