TOKYO, Jan 19 (Reuters) - Palladium hit a fresh 18-month high
on Tuesday as investor demand remained strong after the launch of
an exchange-traded fund backed by the metal earlier this month,
while gold edged up but was capped by a lack of currency market
cues.
FUNDAMENTALS
* Spot gold <XAU=> was at $1,136.40 an ounce as of 0026 GMT,
up 0.3 percent from $1,132.50 an ounce in late London trade on
Monday.
* New York energy and commodity markets were closed on Monday
for Martin Luther King Jr. Day.
* U.S. gold futures for February delivery <GCG0> were at
$1,137.00 an ounce, up 0.6 percent from $1,130.50 on the COMEX
division of the New York Mercantile Exchange on Friday.
* The world's largest gold-backed exchange-traded fund, the
SPDR Gold Trust <GLD>, said its holdings stood at 1,112.836
tonnes as of Jan. 18, unchanged from the previous day. []
* Spot palladium <XPD=> hit a fresh 18-month high above $459
an ounce in early trading on Tuesday, helped by the launch this
month of a new U.S.-based exchange-traded fund backed by the
metal. []
* Spot platinum <XPT=> was at $1,623.50, having earlier risen
to a high of $1,625.50.
* Analysts expect platinum and palladium, used in catalytic
converters, to rise further, but also warn of a correction on
concerns over the still-ailing auto sector.
* The platinum group metals (PGM) rise and the dollar's dip
against a basket of currencies lifted gold, but analysts said
fresh impetus was needed to push bullion higher as there was
little support from currency markets with the euro under
pressure.
MARKET NEWS
* Japan's Nikkei stock average eased 0.2 percent. []
* The euro hit a four-month low against a broadly firmer
pound on Monday as persistent concerns over Greece's ballooning
fiscal deficit kept the single European currency under selling
pressure in subdued trade. []
DATA EVENTS
* The following data is expected on Tuesday: <ECON>
- European Central Bank governing council member Ewald
Nowotny speaks. (N/A)
- UK December inflation data. (0930 GMT)
- German January ZEW indicator. (1000 GMT)
- U.S. net capital inflows/foreign treasury buys for
November. (1400 GMT)
- U.S. NAHB index for January. (1800 GMT)
- Bank of England Governor Mervyn King speaks. (1900 GMT)
RELATED NEWS
>PGMs at more than 17-month highs, gold ticks up []
>Oil, copper and wheat fall on dollar, supply woes []
>Jewellers turn to new materials for inspiration []
>IMF urges care as Europe frets recovery may slow[]
PRICES
Precious metals prices at 0035 GMT
Metal Last Change Pct chg 2 Day chg MA 30 RSI
Spot gold $1136.10 $3.60 +0.32% -1.88% $1118.14 55
Spot silver $18.70 $0.09 +0.48% +2.86% $17.65 67
Spot plat $1622.50 $10.50 +0.65% +1.63% $1490.82 77
COMEX gold $1136.50 $3.10 +0.27% +0.53% $1125.57 53
TOCOM gold 3,323 -1 -0.03% -0.24% 3,292 48
TOCOM plat 4,708 -5 -0.11% +1.20% 4,389 73
Currencies
Euro/dlr $1.439 $0.001 +0.05% +0.35%
Dlr/yen 90.61 -0.14 -0.15% -0.19%
TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Reporting by Chikako Mogi; Editing by Chris Gallagher)
