SINGAPORE, March 21 (Reuters) - Spot gold firmed a touch on
Monday following increased tensions in Libya after western
forces launched a military campaign, while investors continued
to watch the unfolding nuclear crisis in Japan.
FUNDAMENTALS
* Spot gold gained nearly half a percent at $1,426 an
ounce by 0032 GMT.
* U.S. gold futures rose by 0.7 percent at $1,426.40.
* Spot silver climbed 2.1 percent at $35.79 an ounce.
* Tensions in the Middle East and North Africa heightened
after western nations pressed ahead with a campaign of air
attacks in Libya, supporting the sentiment in the precious
metals market.
* Holdings in the world's largest gold-backed,
exchange-traded fund, SPDR Gold Trust , rose to 1,226.395
tonnes, their highest since Feb. 9.
* Japan continues the battle to avert a deadly nuclear
disaster, planning to start testing the power supply to the
quake-damaged reactors at the Fukushima nuclear plant soon.
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MARKET NEWS
* U.S. stocks gained after a week of heightened volatility
on Friday, but investors were reluctant to make big bets due to
turmoil in the Middle East and Japan's nuclear crisis.
* The yen stayed on the defensive early in Asia on Monday,
although selling momentum was already waning in a sign that
further action may be needed to curb the Japanese currency after
the first G7 joint intervention in a over decade.
* Oil jumped by more than $2 on Monday, with Brent above
$116, after the military action in Libya.
DATA/EVENTS (GMT)
1400 U.S. Exist. home sales and chg Feb
Precious metals prices 0032 GMT
Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1426.00 6.43 +0.45 0.46
Spot Silver 35.79 0.74 +2.11 15.98
Spot Platinum 1724.24 6.74 +0.39 -2.45
Spot Palladium 730.77 2.77 +0.38 -8.60
COMEX GOLD APR1 1426.40 10.30 +0.73 0.35 6109
COMEX SILVER MAY1 35.84 0.78 +2.22 15.82 4126
Euro/Dollar 1.4159
Dollar/Yen 80.89
TOCOM prices in yen per gram. Spot prices in $ per ounce.
COMEX gold and silver contracts show the most active months
(Reporting By Rujun Shen; Editing by Manash Goswami)
Reuters
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