SINGAPORE, Dec 15 (Reuters) - Spot gold held steady on
Wednesday, after the Federal Reserve reaffirmed its commitment
on monetary easing, but a dollar rebound is expected to weigh
on prices.
FUNDAMENTALS
* Spot gold edged down 0.2 percent to $1,393.49 an
ounce by 0024 GMT, after reaching a one-week high of $1407.7
in the previous session.
* U.S. gold futures slipped 0.7 percent to $1,395.2.
* The U.S. Federal Reserve on Tuesday offered only a
cautious nod to the economy's improving prospects as it put a
spotlight on lofty unemployment and reaffirmed its commitment
to buy $600 billion in bonds.[]
* This came as data showed U.S. retail sales rose for a
fifth straight month in November, showing that the recovery
gathered steam in the fourth quarter. []
* The dollar edged up against a basket of major currencies
early in Asia on Wednesday in the wake of upbeat U.S. economic
data.
* Holdings in the SPDR Gold Trust , the world's
largest gold-backed exchange-traded fund, continued to slip,
down 3.036 tonnes to 1,286.794 tonnes, its lowest level so far
this month.
* Holdings in the iShares Silver Trust rose to an
all time high of 10,964.14 tonnes.
* Spot silver gained 0.1 percent to $29.44 an ounce.
MARKET NEWS
* U.S. stocks cut gains to end mostly flat after a
late-day sell-off on Tuesday as yet another cautious statement
from the Federal Reserve on the economy offset strong retail
sales data for November.
(GMT) DATA/EVENTS
1200 U.S. Mortgage index Weekly
1330 U.S. Consumer Prices mm Nov
1330 U.S. Real earnings Nov
1400 U.S. Net capital inflows Oct
1415 U.S. Industrial output mm Nov
1500 U.S. NAHB housing market indx Dec
RELATED NEWS
> Fed cautious on recovery, sticks to bond plan
> Wall Street ends flat as Fed sparks late sell-off
> US retail sales boost 4th-qtr growth prospects
> Tax-cut bill heads for approval in US Senate
> Germany open to ECB capital rise to fight crisis
> ECB's Trichet urges EFSF size, scope flexibility
> US CEOs more optimistic on economy-Roundtable
> Berlusconi narrowly survives Italy confidence vote
> Oil slips as dollar stronger, Fed stays put
> German institutes-Growth outlook rosy, balanced
> Euro zone recovery taking lasting hold-EU study
> China to raise inflation target in dovish signal
> UK Nov inflation unexpectedly hits 6-month high
PRICES
Precious metals prices at 0024 GMT
Metal Last Change Pct chg YTD pctchg Turnover
Spot Gold 1393.49 -2.12 -0.15 27.18
Spot Silver 29.44 0.04 +0.14 74.93
Spot Platinum 1695.49 -8.75 -0.51 15.58
Spot Palladium 757.72 -0.25 -0.03 86.86
TOCOM Gold 3767.00 -9.00 -0.24 15.59 19913
TOCOM Platinum 4626.00 -6.00 -0.13 5.59 3840
TOCOM Silver 79.70 -0.90 -1.12 54.16 931
TOCOM Palladium 2055.00 6.00 +0.29 76.39 165
Euro/Dollar 1.3349
Dollar/Yen 83.84
TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Reporting By Rujun Shen; Editing by Ed Lane)
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