SINGAPORE, April 13 (Reuters) - Gold bounced higher on Wednesday after
posting its biggest fall in a month in the previous session, but declines in
bullion and silver ETF holdings suggested investors were nervous following a
second bearish forecast from commodity bull Goldman Sachs.
FUNDAMENTALS
* Spot gold added 44 cents to $1,454.39 an ounce by 0027 GMT after
falling as low as $1,443.49 an ounce on Tuesday. Gold hit a record around $1,476
an ounce on Monday on the prospect of more declines in the dollar.
* Goldman Sachs rocked oil markets for a second day Tuesday by
calling for a nearly $20 fall in Brent crude oil <LCOc1>, saying speculators had
pushed prices ahead of fundamentals. []
* Spot silver rose 11 cents to $40.15 an ounce, still below a 31-year
high at $41.93 struck on Monday.
* The world's largest gold-backed exchange-traded fund, SPDR Gold Trust
, said its holdings slipped to 1,216.299 tonnes by April 12 from
1,217.209 tonnes on April 7.
* IShares Silver Trust said its holdings fell to 11,212.53 tonnes by
April 12 from a record of 11,242.89 tonnes hit on April 8.
* U.S. gold futures for June rose $2.4 an ounce $1,456 an ounce.
MARKET NEWS
* The yen held firm early in Asia on Wednesday, having gained broadly as
profit taking on short positions took off on the back of renewed risk aversion,
while investors also favoured the Swiss franc as a safe-haven currency.
* Oil fell more than $3 on Tuesday as Goldman Sachs warned again of a price
reversal and key forecasters said expensive crude could erode demand.
* Japan's Nikkei average was flat in early trade on Wednesday but was
weighed down after two straight days of losses as falling oil prices depressed
the energy sector and helped to push Wall Street lower.
DATA EVENTS (GMT)
0900 EZ Industrial production yy Feb 2011
1100 U.S. JPMorgan Chase & Co Q1
1230 U.S. Retail sales mm Mar
1400 U.S. Business inventories mm Feb
Precious metals prices 0027 GMT
Metal Last Change Pct chg YTD pct chg Turnover
Spot Gold 1454.39 0.44 +0.03 2.46
Spot Silver 40.15 0.11 +0.27 30.10
Spot Platinum 1774.00 8.30 +0.47 0.37
Spot Palladium 761.22 -0.18 -0.02 -4.79
TOCOM Gold 3930.00 -10.00 -0.25 5.39 38396
TOCOM Platinum 4807.00 -18.00 -0.37 2.36 6569
TOCOM Silver 108.30 0.30 +0.28 33.70 1426
TOCOM Palladium 2062.00 -32.00 -1.53 -1.67 122
Euro/Dollar 1.4491
Dollar/Yen 83.87
TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Reporting by Lewa Pardomuan; Editing by Ed Lane)
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