NY Gold Seen Up $2.50, Silver Up 10 Cents

PRECIOUS METALS: NY Gold Seen Up $2.50, Silver Up 10 Cents

NEW YORK (Dow Jones)-December gold futures are expected to open floor trading in New York around $2.50 an ounce higher Friday, based on electronic activity ahead of the pit session at the Comex division of the New York Mercantile Exchange. September silver is expected to be up about 10 cents an ounce.

In overnight activity, spot gold rose Friday on dollar weakness, but volumes were low as the metal was struggling to find direction.

U.S. economic reports on Friday include second-quarter advance GDP and second-quarter employment cost index at 8:30 a.m. EDT (1230 GMT) and July Chicago PMI at 9:45 a.m. EDT (1345 GMT).

Comex gold warehouse stocks were down 2,506 ounces at 9,141,713 ounces Thursday, while silver stocks were down 587,759 ounces at 118,309,732 ounces.