SINGAPORE, Nov 18 (Reuters) - Spot gold gained by nearly
half a percent on Thursday, after falling for four consecutive
session, as tame U.S. inflation data pushed the dollar off its
rally, supporting bullion.
FUNDAMENTALS
* Spot gold rose by half a percent to $1,342.75 an
ounce by 0035 GMT.
* U.S. gold futures gained 0.4 percent to $1,342.
* The rally that drove the dollar to seven-week highs
fizzled early in Asia on Thursday after subdued U.S. inflation
data bolstered the Federal Reserve's case for pumping more
stimulus into the economy.
* U.S. core consumer inflation touched a record low in
October and new home building sagged, lending support to the
Federal Reserve's move to boost the sluggish economy through
additional monetary easing. []
* Ireland agreed on Wednesday to work with a European
Union-IMF mission on urgent steps to shore up its shattered
banking sector, a process that could lead to a bailout despite
Dublin's deep reluctance.[]
* Silver is likely to rise above $30 an ounce and average
$28 in 2011, lifted by strong investment buying and recovering
fabrication demand, precious metals research and consulting
firm
GFMS said on Wednesday.[]
* Spot silver climbed nearly one percent to $25.86
an
ounce.
MARKET NEWS
* Investors were unable to recoup recent losses in the
market on Wednesday, suggesting the struggles recently
experienced by stocks are far from over.
DATA/EVENTS
1330 U.S. Initial Claims Weekly
1400 U.S. Lead indicators Sep
1400 U.S. Philly Fed index Oct
2200 U.S. Semi Book/Bill Sep
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PRICES
Precious metals prices at 0035 GMT
Metal Last Change Pct chg YTD pct chg Turnover
Spot Gold 1342.75 7.05 +0.53 22.55
Spot Silver 25.86 0.25 +0.98 53.65
Spot Platinum 1639.24 5.75 +0.35 11.74
Spot Palladium 664.47 4.22 +0.64 63.86
TOCOM Gold 3603.00 -1.00 -0.03 10.56
20153
TOCOM Platinum 4434.00 5.00 +0.11 1.21
5113
TOCOM Silver 69.40 0.90 +1.31 34.24
839
TOCOM Palladium 1784.00 70.00 +4.08 53.13
590
Euro/Dollar 1.3551
Dollar/Yen 83.18
TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Reporting by Rujun Shen; Editing by Ed Lane)
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