The dollar was mixed against the major foreign currencies Friday as investors turned their sights toward trade deficit figures to be released next week. Gold prices were also mixed. Republic National Bank of New York quoted a late bid of $422.50 for a troy ounce of gold, up from $421.30 late Thursday, but the metal declined in overseas trading. Dollar trading was lackluster as investors squared their positions in advance of the weekend and Wednesday's scheduled release of balance of trade figures for October. Jack Barbanel, a market analyst for Gruntal & Co., predicted the dollar would remain stable until the report is released. Overseas, dealers said the dollar was pressured lower by strength in the West German mark. They said the mark rose amid speculation that the Bundesbank would raise its Lombard rate by a half percentage point to 5.5 percent. The Lombard rate is the interest the central bank charges commercial banks for supplemental borrowings in which securities are used as collateral. In Frankfurt, the dollar slipped to 1.7330 marks from 1.7420 late Thursday. In New York, it fell to 1.73525 marks from 1.73865. In Tokyo, where trading ends before Europe's business day begins, the dollar fell 0.59 yen to a closing 122.43 yen. Later, in London, it was quoted higher at 122.30 yen, and in New York, the dollar rose to 122.49 yen from 122.30 late Thursday. In London, the dollar gained against the British pound. It cost $1.8490 to buy one pound, cheaper than $1.8510 Thursday. In New York, the pound was worth $1.8495, compared with late Thursday's $1.85505. Other late dollar rates in New York, compared with late Thursday's prices, included: 1.4620 Swiss francs, down from 1.4633; 5.9290 French francs, down from 5.9350; 1,282.75 Italian lire, down from 1,283.00; and 1.19665 Canadian dollars, up from 1.19275. Other late dollar rates in Europe, compared with late Thursday's rates, included: 1.4605 Swiss francs, down from 1.4665; 5.9240 French francs, down from 5.9450; 1.9560 Dutch guilders, down from 1.9645; 1,280.25 Italian lire, down from 1,285.00; 1.1970 Canadian dollars, up from 1.1933. Gold closed at $422.90 a troy ounce on the Commodity Exchange in New York, up from 421.30 late Thursday. But gold fell earlier in London to a late bid price of $420.75 a troy ounce, compared with $423.50 late Thursday, and in Zurich, it closed at a bid $420.30, compared with $423 bid late Thursday. In Hong Kong, gold fell $1.24 to close at a bid $423.64. Silver bullion prices held steady on the London market where the metal was trading at a late bid price of $6.16 a troy ounce, unchanged from Thursday. On the Commodity Exchange in New York, silver rose to $6.175 a troy ounce from late Thursday's $6.128.
