By Rujun Shen
SINGAPORE, Dec 16 (Reuters) - Spot gold was steady on
Thursday as the dollar held onto gains after upbeat U.S. data
and ahead of a European Union summit to find solutions for the
region's sovereign debt crisis.
FUNDAMENTALS
* Spot gold was flat at $1,380.49 an ounce by 0042
GMT.
* U.S. gold futures inched lower 0.3 percent to
$1,380.9.
* U.S. industrial production rose at its fastest pace in
four months in November, implying a self-sustaining recovery
is now entrenched, but a mild gain in consumer prices
indicated still abundant slack in the economy. []
* The European Union leaders start a two-day summit on
Thursday, hoping to find a solution to the region's sovereign
debt crisis. []
* But the endeavour could be in vain, leaving the euro
vulnerable to further declines, after the single currency took
a hit on Tuesday when Moody's put Spain on a review for a
possible downgrade.
* Holdings in the world's largest gold-backed
exchange-traded fund, SPDR Gold Trust , edged down less
than one tonne on Dec 15.
MARKET NEWS
* U.S. stocks suffered a third straight late-day sell-off
on Wednesday, suggesting it may be difficult to chalk further
gains as the year comes to a close.
(GMT) DATA/EVENTS
0858 EZ Markit mfg PMI Dec
1000 EZ Inflation-f Nov
1330 U.S. Initial Claims Weekly
1330 U.S. International trade mm Q3
1330 U.S. House starts mm: change Nov
1500 U.S. Philly Fed index Dec
1530 U.S EIA natural gas stocks Weekly
2200 U.S. Semi Book/Bill Nov
:: EZ Start of two-day EU leaders summit in Brussels
RELATED NEWS
> Spain receives debt warning before EU summit
> Wall Street slips in another late sell-off
> US production data points to sustained recovery
> EU hopes to seize debt crisis initiative at summit
> Obama administration sues BP, others on Gulf spill
> US Senate passes Obama's $858 bln tax-cut plan
> Ireland passes bailout package despite opposition
> UK jobless total rises for first time in 6 mths
> Oil gains on US inventory draw, economic data
> US eyes 'robust outcomes' in China trade talks
> Japan business mood worsens, BOJ seen holding
> Canada factories, housing on steady growth track
> NZ consumer confidence at 18-mo low in Q4-survey
PRICES
Precious metals prices at 0042 GMT
Metal Last Change Pct chg YTD pctchg Turnover
Spot Gold 1380.49 0.04 +0.00 25.99
Spot Silver 28.90 0.11 +0.38 71.72
Spot Platinum 1689.99 -5.51 -0.32 15.20
Spot Palladium 746.72 0.00 +0.00 84.15
TOCOM Gold 3748.00 -5.00 -0.13 15.00 22249
TOCOM Platinum 4632.00 4.00 +0.09 5.73 4249
TOCOM Silver 78.70 -0.30 -0.38 52.22 998
TOCOM Palladium 2043.00 1.00 +0.05 75.36 209
Euro/Dollar 1.3224
Dollar/Yen 84.23
TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Reporting By Rujun Shen)
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