SINGAPORE, June 16 (Reuters) - Gold slipped on Wednesday, under pressure from firm stock markets and a steadier euro, after rising 1 percent the previous day on safe-haven buying driven by worries the debt problems in Europe were worsening.
FUNDAMENTALS
* Spot gold <XAU=> was at $1,232.00 an ounce by 0056 GMT, down 45 cents from New York's notional close on Tuesday, when investors poured money into the metal following a sovereign ratings downgrade of Greece. Gold hit lifetime high of $1,251.20 last week.
* U.S. gold futures for August delivery <GCQ0> hardly moved at $1,233.3 an ounce after ending nearly $10 higher on Wednesday.
* Holdings in The world's largest gold-backed exchange-traded fund, SPDR Gold Trust <GLD.P>, were unchanged at a record high of 1,306.137 tonnes. [
]MARKET NEWS
* The euro steadied near two-week highs on Wednesday, while demand for high-yielding currencies was underpinned by a general improvement in risk taking as investors set aside concerns about the euro zone's financial sector for the moment to buy riskier assets. [
]* Japan's Nikkei average rose more than 1 percent on Wednesday to top 10,000 for the first time in a month, after successful debt sales by some of the weakest euro-zone members boosted the euro and Wall Street. [
] [ ]* U.S. crude futures rose for a third day to above $77 a barrel on Wednesday, helped by the euro and Wall Street's climb, despite industry data showing an unexpected rise in U.S. crude inventories. [
]DATA EVENTS
The following data is expected on Wednesday <ECON>:
- EZ Inflation, final yy May (0900 GMT)
- U.S. Build permits: change mm May (1230 GMT)
- U.S. House starts mm: change May (1230 GMT)
- U.S. Housing starts number mm May (1230 GMT)
- U.S. PPI inflation y/y, NSA May (1230 GMT)
- U.S. Producer prices mm May (1230 GMT)
- U.S. Producer prices, core mm May (1230 GMT)
- U.S. Producer prices, core yy May (1230 GMT)
- U.S. Industrial output mm May (1315 GMT)
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[
] > Spain sells debt at premium,policymakers urge calm[ ] > PIMCO's El-Erian: Further ECB action needed[
] > NY manufacturing grows, U.S. import prices slip [ ] > Best Buy results disappoint; shares fall[
] > Japan govt panel to urge sales tax rise -Asahi [ ] > NZ consumer confidence gains in Q2 - survey [ ] > Euro zone April trade surplus less than expected [ ] > German data signals mixed in euro zone debt woes [ ] > UK Nationwide confidence index falls to 11-mth low[ ] > Canada factory sales, productivity growth slows [ ] Precious metals prices at 0056 GMT Metal Last Change Pct chg YTD pct chg Turnover Spot Gold 1232.00 -0.45 -0.04 12.44 Spot Silver 18.54 0.05 +0.27 10.16 Spot Platinum 1579.25 6.75 +0.43 7.65 Spot Palladium 470.00 0.50 +0.11 15.91 TOCOM Gold 3638.00 41.00 +1.14 11.63 14864 TOCOM Platinum 4687.00 99.00 +2.16 6.98 9143 TOCOM Silver 55.20 1.10 +2.03 6.77 283 TOCOM Palladium 1395.00 49.00 +3.64 19.74 236 Euro/Dollar 1.2309 Dollar/Yen 91.61 TOCOM prices in yen per gram. Spot prices in $ per ounce. (Reporting by Lewa Pardomuan; Editing by Ed Lane)