SINGAPORE, March 14 (Reuters) - Gold rose about 1 percent on
Monday as Japan battled to prevent a nuclear catastrophe after a
massive earthquake and tsunami, but declines in equities markets
could also prompt investors to sell bullion to cover losses.
FUNDAMENTALS
* Spot gold added $9.99 to $1,427.69 an ounce by 0045
after rising as high as $1,431.89 an ounce -- still off a record
high of $1,444.40 hit last week.
* U.S. gold futures for April rose $7 an ounce to
$1,428.8 an ounce.
* Japan's Nikkei average extended losses and fell
3.9 percent to 9,851.06 in early trade on Monday as the market
gauges the effects of last week's earthquake and tsunami.
* Broadcaster NHK, quoting a police official, said more than
10,000 people may have been killed as the wall of water
triggered by Friday's 8.9-magnitude quake surged across the
coastline, reducing whole towns to rubble.
* The world's largest gold-backed exchange-traded fund, SPDR
Gold Trust , said its holdings edged down to 1,215.475
tonnes by March 11, their lowest since May 2010, from 1,217.295
tonnes on March 7.
MARKET NEWS
* Brent crude fell more than $1 on Monday to below $113 on
investor pessimism that economic growth will slow in the wake of
Japan's earthquake and tsunami, while easing unrest in the
Middle East threw the focus back onto ample oil supplies.
* The yen rallied broadly early in Asia on Monday but
quickly pared gains in volatile trade as nervous traders waited
to see what action Japanese officials will take to keep markets
calm after Friday's massive earthquake and tsunami.
DATA EVENTS (GMT)
0430 Japan Industrial output rev Jan 2011
0500 Japan Consumer confid. index Feb 2011
1000 EZ Industrial production yy Jan 2011
Precious metals prices 0045 GMT
Metal Last Change Pct chg YTD pct chg Turnover
Spot Gold 1427.69 9.99 +0.70 0.58
Spot Silver 36.39 0.56 +1.56 17.92
Spot Platinum 1756.74 -21.76 -1.22 -0.61
Spot Palladium 752.50 -4.50 -0.59 -5.88
TOCOM Gold 3764.00 -29.00 -0.76 0.94 28215
TOCOM Platinum 4678.00 -130.00 -2.70 -0.38 11613
TOCOM Silver 93.90 0.80 +0.86 15.93 1519
TOCOM Palladium 1982.00 -72.00 -3.51 -5.48 495
Euro/Dollar 1.3917
Dollar/Yen 81.73
TOCOM prices in yen per gram. Spot prices in
$ per ounce.
(Reporting by Lewa Pardomuan; Editing by Himani Sarkar)
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