SINGAPORE, Feb 9 (Reuters) - Gold barely changed on Tuesday
and was under pressure from a rally in global stock markets and
improved sentiment on economic recovery, but inflation concerns
could still underpin sentiment.
FUNDAMENTALS
* Spot gold added 59 cents to $1,351.05 an ounce by
0020 GMT, well below a lifetime high around $1,430 an ounce hit
in December.
* U.S. gold futures for April rose $4.1 an ounce to
$1,352.3 an ounce.
* Japan's Nikkei average hit a new nine-month peak on
Tuesday, extending gains for a third straight day, as investors
pile into riskier assets in developed economies on hopes for a
steady economic recovery.
MARKET NEWS
* The euro ended little changed against the U.S. dollar on
Monday after reaching a two-week low, but near-term gains will
likely be limited as weak German industrial data fuel doubts of
interest rates rising in the euro zone.
* Oil prices fell sharply on Monday as concerns about
Egypt's political turmoil affecting oil flows in the region
eased and investor focus returned to rising U.S. inventories and
a tepid employment picture.
DATA/EVENTS (GMT)
- 1100 Germany Industrial output mm Dec 2010
- 1245 U.S. ICSC chain stores yy Weekly
- 1600 U.S. EIA Short-Term Energy Outlook Feb
- 2130 U.S. API petroleum stocks Weekly
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Precious metals prices 0020 GMT
Metal Last Change Pct chg YTD pct chg Turnover
Spot Gold 1351.05 0.59 +0.04 -4.82
Spot Silver 29.39 0.02 +0.07 -4.76
Spot Platinum 1836.49 -1.51 -0.08 3.90
Spot Palladium 816.47 1.00 +0.12 2.12
TOCOM Gold 3588.00 13.00 +0.36 -3.78 15139
TOCOM Platinum 4908.00 11.00 +0.22 4.51 3770
TOCOM Silver 77.70 0.70 +0.91 -4.07 370
TOCOM Palladium 2176.00 16.00 +0.74 3.77 128
Euro/Dollar 1.3579
Dollar/Yen 82.28
TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Reporting by Lewa Pardomuan; Editing by Himani Sarkar)
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