TOKYO, Feb 10 (Reuters) - Gold prices steadied around $1,075
per ounce on Wednesday after a rally the previous day of over 1
percent on economic optimism as the euro rose on reports of a
possible European bailout for debt-stricken Greece.
FUNDAMENTALS
* Spot gold <XAU=> was at $1,077.60 per ounce as of 0001 GMT,
up 0.1 percent from New York's notional close of $1,076.95, but
off Tuesday's high of $1,083.05.
* European governments have agreed in principle to help
heavily indebted Greece, a senior German coalition source said on
Tuesday, in what would be the first rescue of a euro zone member
in the currency's 11-year history. []
* On Friday, spot gold traded as low as $1,043.75, its lowest
since Nov. 2, as the euro fell on fears over the outlook for some
euro zone economies.
* U.S. gold futures for April delivery <GCJ0> edged up 0.1
percent to $1,078.60 per ounce. On Tuesday the contract settled
up $11 at $1,077.20 an ounce on the COMEX division of the New
York Mercantile Exchange.
* The world's largest gold-backed exchange-traded fund, SPDR
Gold Trust <GLD>, said its holdings were at 1,106.378 tonnes as
of Feb. 9, unchanged for the second straight day. The holdings
hit a record high of 1,134.03 tonnes on June 1. []
MARKET NEWS
* The euro extended gains on Wednesday, having earned a
reprieve in the previous session, as investors unwound short
positions in the single currency on reports that a rescue package
for Greece was in the works. []
* The Dow posted its largest one-day percentage gain in three
months on Tuesday, boosted by reports of an aid plan for heavily
indebted Greece. []
* China Investment Corp [], the Asian giant's $300
billion sovereign wealth fund, said it had invested in the gold
sector, including a $155.6 million in New York's SPDR Gold Trust.
[]
DATA EVENTS
* The following data is expected on Wednesday: <ECON>
- Japan Jan corp goods prices (2350 GMT)
- Japan Dec machinery orders (2350 GMT)
- Australia Dec housing finance (0030 GMT)
- China trade data for Jan (N/A)
- French Dec industrial production (0745 GMT)
- Italy Dec industrial production (0900 GMT)
- UK Dec industrial, manufacturing production (0930 GMT)
- BOE quarterly inflation report (1030 GMT)
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PRICES
Precious metals prices at 2357 GMT
Metal Last Change Pct chg 2 day chg MA 30 RSI
Spot gold $1077.15 -$50.80 -4.50% -6.97% $1108.36 44
Spot silver $15.44 -$2.80 -15.35% -15.07% $17.22 35
Spot plat $1501.00 -$67.50 -4.30% +2.04% $1546.77 44
TOCOM gold 3,318 236 +7.66% +8.01% 3,240 37
TOCOM plat 4,608 357 +8.40% +9.01% 4,511 41
Currencies
Euro/dlr $1.378 -$0.001 -0.06% +0.94%
Dlr/yen 89.75 0.14 +0.16% +0.50%
TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Reporting by Risa Maeda; Editing by Joseph Radford)
