SINGAPORE, Feb 1 (Reuters) - Gold regained strength on
Tuesday on bargain hunting and a rise in ETF holdings, having
posted a monthly decline in January -- its first in six months
-- on strong U.S. factory data and fading worries about the euro
zone debt crisis.
FUNDAMENTALS
* Spot gold added $2.15 to $1,334.05 an ounce by 0027
GMT after falling as low as 1,322.90 on Monday.
* U.S. gold futures for April rose $1.5 to $1,336 an
ounce, having settled around $7 lower after data showed factory
activity in the U.S. Midwest hit a 22-1/2 year high in January
and another report showed consumer spending ended 2010 on a
firmer footing.
* The world's largest gold-backed exchange-traded fund, SPDR
Gold Trust , said its holdings edged up to 1,227.153 tonnes
by Jan 31 from 1,224.118 tonnes on Jan 28 -- the first rise
since Jan 21.
* Precious metals-backed exchange-traded funds were on track
for record-breaking outflows in January as a run of
well-received economic data prompted investors to sell gold and
silver in favour of other assets.
MARKET NEWS
* The euro headed for its second consecutive monthly advance
against the dollar on Monday and more gains could be in store
after a jump in euro zone inflation bolstered the view interest
rates in the region could rise more quickly than in the United
States.
* Japan's Nikkei rose on Tuesday on expectations for strong
earnings and with oil prices helping resource stocks.
DATA/EVENTS (GMT)
0100 China NBS PMI Jan 2011 0330 Australia
RBA cash rate Feb 2011 0500 India HSBC Markit
Mfg PMI Jan 2011 0500 U.S. Total Vehicle Sales
Jan 0858 EZ Markit Mfg PMI Jan 2011
0900 Germany Unemployment rate sa Jan 2011
1245 U.S. ICSC chain stores yy Weekly 1500 U.S.
ISM Manufacturing PMI Jan 1500 U.S. Construction
spending Dec
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Precious metals prices 0027 GMT
Metal Last Change Pct chg YTD pct chg Turnover
Spot Gold 1334.05 2.15 +0.16 -6.02
Spot Silver 28.16 0.12 +0.43 -8.75
Spot Platinum 1793.24 1.74 +0.10 1.46
Spot Palladium 818.75 6.78 +0.84 2.41
TOCOM Gold 3536.00 -1.00 -0.03 -5.18 17752
TOCOM Platinum 4786.00 23.00 +0.48 1.92 3136
TOCOM Silver 74.30 0.70 +0.95 -8.27 367
TOCOM Palladium 2169.00 24.00 +1.12 3.43 287
Euro/Dollar 1.3723
Dollar/Yen 82.09
TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Reporting by Lewa Pardomuan; Editing by Himani Sarkar)
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