SINGAPORE, Jan 28 (Reuters) - Spot gold held near a
four-month low on Friday, after falling by more than two percent
in the previous session, as economic data from the United States
and Europe pointed to steady growth, which depresses safe-haven
demand from investors.
FUNDAMENTALS
* Spot gold was little changed at $1,313.25 an ounce
by 0041 GMT, after falling to $1,308.70 in the previous session,
its lowest in nearly four months.
* U.S. gold futures fell 0.4 percent at $1,313.
* U.S. housing and factory data on Thursday showed the
economy still gaining strength in December but at a pace
unlikely to cause the Federal Reserve to rethink its stimulus
program.
* Euro zone economic sentiment was broadly flat in January,
pointing to a good start to 2011, but inflation expectations
jumped among companies and households, adding to European
Central Bank policy headaches.
* Holdings in the SPDR Gold Trust , the world's largest
gold-backed exchange-traded fund, fell about three tonnes to its
eight-month low of 1,226.546 tonnes.
MARKET NEWS
* Strong corporate earnings led Wall Street to a 29-month
closing high for a second day on Thursday, but another run of
big gains may be harder to achieve.
* The yen nursed broad losses on Friday after Standard &
Poor's cut Japan's credit rating by a notch, though it fared
relatively better against the U.S. dollar which had troubles of
its own.
DATA/EVENTS (GMT)
0900 EZ Money-M3 3m moving av Dec
1130 India M3 Money Supply Final
1330 U.S. Real GDP qq SAAR Q4-Adv
1455 U.S. Reuters/UMich Sent Jan-P
:: U.S. Chevron Q4
RELATED NEWS
> Mixed U.S. data points to growth momentum
> ECB warns of imported inflation, euro jumps
> German inflation edges up in January
> S&P cuts Japan debt rating; warning to rich world
> US manufacturing profits suggest stronger economy
> China to open up yuan cautiously, boost trade
> Euro zone sentiment broadly flat, inflation outloo
> Yen weak on S&P downgrade; commodities drop
> U.S., Japan must spell out plans to cut debt-IMF
> Strong Japan exports suggest end to econ lull near
> Brent hovers near flat as premium to WTI surges
> Russia cbanker sees inflation risks in H1
PRICES
Precious metals prices 0041 GMT
Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1313.25 1.01 +0.08 -7.48
Spot Silver 26.90 0.02 +0.07 -12.83
Spot Platinum 1777.99 -3.01 -0.17 0.59
Spot Palladium 801.47 -0.75 -0.09 0.25
TOCOM Gold 3511.00 -51.00 -1.43 -5.85 35292
TOCOM Platinum 4790.00 -36.00 -0.75 2.00 4881
TOCOM Silver 71.80 -1.20 -1.64 -11.36 668
TOCOM Palladium 2139.00 -10.00 -0.47 2.00 290
COMEX GOLD FEB1 1313.00 -5.40 -0.41 -7.63 1559
COMEX SILVER MAR1 26.90 -0.13 -0.48 -13.06 501
Euro/Dollar 1.3725
Dollar/Yen 82.84
TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Reporting By Rujun Shen; Editing by Ed Lane)
Reuters
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