TOKYO, March 15 (Reuters) - Gold prices rebounded on Monday
from a two-week low hit late last week, but remained pressured by
a weaker dollar and investors' profit-taking.
FUNDAMENTALS
* Spot gold <XAU=> inched up 0.3 percent to $1,103.20 an
ounce from New York's notional close of $1,099.50.
* Gold briefly dropped below $1,100 an ounce on Friday to its
lowest level since Feb. 25 despite a dollar rise, as investors
unwound positions added the week before due to currency
volatility amid a Greek debt crisis.
* Speculation of further monetary tightening by China and
economic uncertainty amid sovereign debt worries out of Europe
triggered heavy futures liquidation last week.
* U.S. gold futures for April delivery <CGJ0> were at
$1,103.60 an ounce, up 0.2 percent compared with $1,101.70 on the
COMEX division of the NYMEX.
* Noncommercial net long U.S. gold futures positions inched
up 0.4 percent to 208,194 contracts in the week ended March 9
from 207,372 contracts a week earlier, according to the weekly
Commitments of Traders report published by the Commodity Futures
Trading Commission. It was the highest in five weeks.
[]
* The world's largest gold-backed exchange-traded fund, SPDR
Gold Trust <GLD>, said its holdings stood at 1,115.511 tonnes as
of March 12, unchanged from the previous business day. []
MARKET NEWS
* Mixed consumer and retail data kept U.S. stocks near break
even on Friday, but major indexes edged higher for a second
straight week. []
* The dollar was weaker while the euro held near its Friday
peak against the dollar on Monday. The dollar dropped to a
one-month low against the euro and a two-week trough against
sterling on Friday, as investors pared back large bearish bets on
the two European currencies following strong euro zone economic
data. []
DATA EVENTS
* The following data is expected on Monday: <ECON>
- EU Economic and Financial Affairs Council meets. (N/A)
- Japan Feb consumer confidence index. (0500 GMT)
- Euro zone Q4 employment. (1000 GMT)
- New York Fed Empire State survey for March. (1230 GMT)
- U.S. Feb industrial production/capacity use. (1315 GMT)
- U.S. NAHB index for March. (1700 GMT)
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PRICES
Precious metals prices at 2329 GMT
Metal Last Change Pct chg 2 Day chg MA 30 RSI
Spot gold $1102.95 $3.45 +0.31% -4.75% $1106.40 38
Spot silver $17.11 $0.09 +0.53% -5.89% $16.30 61
Spot plat $1606.50 $2.00 +0.12% +0.22% $1547.07 72
COMEX gold $1103.70 -$4.50 -0.41% -0.40% $1109.21 36
TOCOM gold 3,265 13 +0.40% +1.11% 3,218 52
TOCOM plat 4,710 32 +0.68% +2.55% 4,448 70
Currencies
Euro/dlr $1.376 -$0.001 -0.09% -0.04%
Dlr/yen 90.67 -0.02 -0.02% +0.20%
TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Reporting by Chikako Mogi; Editing by Chris Gallagher)
