SINGAPORE, Jan 24 (Reuters) - Spot gold prices edged up on
Monday, regaining some lost ground after falling for two
consecutive days, while holdings in the SPDR Gold Trust rose for
the first time in two weeks, as investors entered the market for
bargain-hunting.
FUNDAMENTALS
* Spot gold gained 0.4 percent at $1,347 an ounce by
0039 GMT.
* U.S. gold futures also rose by 0.4 percent to
$1,346.5.
* An improved economic outlook dimmed gold's appeal as
safe-haven investment, driving gold to $1,337.5 on Friday, its
lowest in more than two months.
* But holdings in the SPDR Gold Trust , the world's
largest gold-backed exchange-traded fund, jumped 1.6 percent to
1,271.769. It was the first rise in about two weeks.
* German business morale rose to its highest level in 20
years in January, surging past economists' forecasts on the back
of a manufacturing sector now fully recovered from the 2008
financial crisis.
* Speculative net long positions in U.S. gold futures fell
to 164,993 by Jan 18, from 177,372 a week earlier, the U.S.
Commodity Futures Trading Commission said.
* Holdings in the iShares Silver Trust , the world's
largest physically backed exchange-traded fund, fell 1.3 percent
to 10,394.53 tonnes, its lowest since early November.
* Spot silver rose by 0.7 percent to $27.66 an ounce,
recovering from a three-day losing streak that took the metal to
$27.10 on Friday, its lowest since end of November.
MARKET NEWS
* The euro backed away from a nine-week high early in Asia
on Monday in the face of heightened political uncertainty in
Ireland, but euro bears were wary of becoming too negative
having been badly burnt in the last couple of weeks.
* The Dow and S&P 500 rose on Friday as General Electric
Co's earnings put a positive tone on the economic
recovery, snapping a two-day losing skid for the benchmark
index.
DATA/EVENTS (GMT)
0758 France Markit/CDAF Mfg FlashPMI Jan
0828 Germany Markit/BME MFG Flash PMI Jan
0858 EZ Markit Mfg flash PMI Jan
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PRICES
Precious metals prices 0039 GMT
Metal Last Change Pct chg YTD pct chg Turnover
Spot Gold 1347.00 4.75 +0.35 -5.10
Spot Silver 27.66 0.19 +0.69 -10.37
Spot Platinum 1827.57 3.57 +0.20 3.40
Spot Palladium 820.47 0.72 +0.09 2.62
TOCOM Gold 3598.00 -5.00 -0.14 -3.51 27541
TOCOM Platinum 4918.00 51.00 +1.05 4.73 3700
TOCOM Silver 73.60 1.10 +1.52 -9.14 833
TOCOM Palladium 2188.00 38.00 +1.77 4.34 225
Euro/Dollar 1.3592
Dollar/Yen 82.71
TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Reporting By Rujun Shen; Editing by Ed Lane)
Reuters
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