SINGAPORE, March 29 (Reuters) - Spot gold was little changed
on Tuesday, as investors watch moves in the currency market
after inflation comments by the European Central Bank, while
holdings in the SPDR Gold Trust continued to decline.
FUNDAMENTALS
* Spot gold was nearly flat at $1,418.95 an ounce by
0052 GMT.
* U.S. gold futures <GCv1> were little changed at $1,419.20.
* Comments from the European Central Bank's president on
increasing inflation in the euro zone strengthened expectations
for the bank to raise interest rates next month, supporting the
euro. []
* Investors continued to watch the Middle East unrest and
Japan's nuclear crisis, although their influence is fading.
[] []
* Holdings in the SPDR Gold Trust , the world's largest
gold-backed exchange-traded fund, extended losses to its lowest
in more than three weeks at 1,211.836 tonnes, suggesting waning
investment interest in bullion.
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MARKET NEWS
* U.S. stocks fell on Monday as the corporate outlook was
clouded ahead of earnings and uncertainty continued to creep
from abroad, while volume hit its lowest level of the year.
* The euro held its ground early in Asia on Tuesday after
comments from the head of the European Central Bank bolstered
views for an interest rate hike, while a widening interest rate
differential helped the dollar higher on the yen.
* U.S. oil prices eased on Tuesday for a fourth day after
Libyan rebels, with the help of Western-led air strikes, pressed
forward against embattled leader Muammar Gaddafi.
DATA/EVENTS (GMT)
1145 U.S. ICSC chain stores yy Weekly
1300 U.S. CaseShiller 20 mm nsa Jan
1300 U.S. CaseShiller 20 yy Jan
1400 U.S. Consumer confidence Mar
2300 S.Korea GDP growth yy Revised Oct 2010
2350 Japan Industrial output prelim mm Feb 2011
2350 Japan IP forecast 1 mth ahead Feb 2011
PRICES
Precious metals prices 0052 GMT
Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1418.95 -0.55 -0.04 -0.04
Spot Silver 36.94 -0.18 -0.48 19.70
Spot Platinum 1736.74 -8.96 -0.51 -1.74
Spot Palladium 739.47 -2.56 -0.34 -7.51
TOCOM Gold 3730.00 -19.00 -0.51 0.03 16030
TOCOM Platinum 4574.00 4.00 +0.09 -2.60 5755
TOCOM Silver 96.80 -0.40 -0.41 19.51 1890
TOCOM Palladium 1950.00 -5.00 -0.26 -7.01 67
COMEX GOLD APR1 1419.20 -0.70 -0.05 -0.15 3082
COMEX SILVER MAY1 36.98 -0.11 -0.30 19.51 2515
Euro/Dollar 1.4087
Dollar/Yen 81.55
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 Clarence Fernandez)
Reuters
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