SINGAPORE, Dec 31 (Reuters) - Spot gold held steady on
Friday, on course for a 28 percent annual rise and its
strongest in three years, as it was supported by the weakness
in the dollar, while investors were expecting a further price
rally next year.
FUNDAMENTALS
* Spot gold edged up 0.2 percent to $1,406.15 an
ounce by 0033 GMT.
* U.S. gold futures were little changed at $1,406.9.
* Upbeat U.S. data on the jobs market and manufacturing
sector on Thursday buttressed the view the economy gained
momentum as the year ended, setting the stage for a stronger
performance in 2011. []
* Holdings in the SPDR Gold Trust , the world's
largest gold-backed exchange-traded fund, fell to 1,280.722
tonnes by Dec 30, its lowest since early June.
* Gold is likely to reach $1,500 an ounce, if not beyond,
in the next year, traders and analysts said.
* Spot silver gained 0.4 percent to $30.56, after
hitting a 30-year high of $30.88 in the previous session.
* Holdings in the iShares Silver Trust , the world's
largest physically backed exchange-traded fund, stood at a
record level of 10,903.34 tonnes.
* Spot palladium was little changed at $785.75, on
course for a 94 percent rise on the year and the top performer
in commodities of 2010.
* For a factbox on commodities performance in 2010, click:
[]
MARKET NEWS
* The euro firmed against the greenback, rising above
$1.3300 for the first time in two weeks, before retreating
slightly to last stand at $1.3293 .
* U.S. stocks closed slightly lower on Thursday as a trio
of better-than-expected economic data wasn't enough to entice
buyers to take on much risk in a market sitting on strong
gains just before the new year.
DATA/EVENTS (GMT)
ISM New York, Dec 1330 GMT
ECRI Weekly Index 1530 GMT RELATED NEWS
> US jobless, factory data buoy recovery hopes
> Wall St edges lower as year draws to a close
> IMF sees slow growth in 2011 for rich nations
> ECB's Nowotny wants euro crisis mechanism
pre-2013
> Oil slips as year-end nears despite inventory
drop
> China factory inflation eases, yuan hits record
> German retailers report strong Christmas sales
> Spain's banks must do more to gain trust-PM
> Brazil to hike tariffs to offset strong currency
> Argentine economy to grow 3.5-6.5% in 2011-cenbank
PRICES
Precious metals prices at 0033 GMT
Metal Last Change Pct chg YTD pct chg
Spot Gold 1406.15 2.16 +0.15 28.33
Spot Silver 30.56 0.12 +0.39 81.58
Spot Platinum 1744.99 1.50 +0.09 18.95
Spot Palladium 785.75 -0.22 -0.03 93.77
Euro/Dollar 1.3299
Dollar/Yen 81.48
(Reporting By Rujun Shen; Editing by Himani Sarkar)
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