TOKYO, Dec 17 (Reuters) - Gold prices were steady on
Thursday, holding onto gains made the previous day after the U.S.
Federal Reserve noted some economic improvements but reiterated
its pledge to keep interest rates low.
FUNDAMENTALS
* Spot gold <XAU=> was at $1,139.20 per ounce at 0009 GMT, up
0.1 percent from New York's notional close of $1,137.80.
* The Fed's pledge on Wednesday to keep interest rates low
for "an extended period" reaffirmed the weak outlook for the
dollar. []
* The dollar was higher against the yen and the euro was
little changed at $1.4535 after the Fed meeting. []
* Gold is now trading about 8 percent below a record high of
$1,226.10 hit on Dec. 3.
* U.S. gold futures for February delivery <GCG0> inched up
0.3 percent to $1,139.80 an ounce on the COMEX division of the
NYMEX.
* Futures hit a record high $1,227.50 hit on Dec. 3.
* The world's largest gold-backed exchange-traded fund, SPDR
Gold Trust <GLD>, said its holdings rose 3.963 tonnes to
1,120.514 tonnes on Wednesday. []
MARKET NEWS
* The Fed will raise interest rates by the end of the first
quarter of 2011, most U.S. primary government securities dealers
said in a Reuters poll on Wednesday, with differences largely
tied to when forecasters thinks U.S. unemployment will peak.
[]
* Japan's Nikkei share average <> was up 0.2 percent on
Thursday. []
* U.S. stocks finished flat to slightly higher on Wednesday
after the Fed reiterated its intention to keep interest rates low
for the foreseeable future to ensure a sustainable economic
recovery. []
* Oil surged 2.8 percent to near $73 a barrel on Wednesday
after data showed crude stocks in the United States fell more
than expected last week, easing concerns about flagging demand.
[]
DATA EVENTS
* The following data is expected on Thursday: <ECON>
- Bank of Japan starts two-day policy meeting (N/A)
- Reserve Bank of Australia monthly bulletin (0030 GMT)
- WTO General Council meeting in Geneva to Dec 18 (N/A)
- UK retail sales for November (0930 GMT)
- Swiss ZEW survey for December (1000 GMT)
- Weekly U.S. jobless claims (1330 GMT)
- U.S. leading indicators for November (1500 GMT)
- Philadelphia Fed Nov business activity index (1500 GMT)
RELATED NEWS
> Softs, oil jump on tighter supply and Fed bets []
> More upbeat Fed leaves policy on hold for now []
> Gold over $1,300 as bull mkt matures -M.Stanley []
> Russia's Kudrin sees potential to cut rates []
> RBS lifts 2010 aluminium, palladium forecasts []
PRICES
Precious metals prices at 0016 GMT
Metal Last Change Pct chg Day ago pct MA 30 RSI
Spot gold $1139.90 $2.10 +0.18% -1.55% $1145.66 47
Spot silver $17.71 $0.04 +0.23% -2.59% $18.06 48
Spot plat $1457.50 $6.00 +0.41% +0.83% $1429.52 59
COMEX gold $1141.40 $2.60 +0.23% +1.64% $1143.99 48
TOCOM gold 3,309 58 +1.78% +2.73% 3,291 55
TOCOM plat 4,226 67 +1.61% +1.90% 4,105 65
Currencies
Euro/dlr $1.452 -$0.001 -0.10% -0.08%
Dlr/yen 89.89 0.11 +0.12% +0.30%
TOCOM prices in yen per gram, except TOCOM silver which is
priced in yen per 10 grams. Spot prices in $ per ounce.
(Reporting by Risa Maeda; Editing by Joseph Radford)
