By Lewa Pardomuan
SINGAPORE, Dec 20 (Reuters) - Gold rose more than half a
percent on Monday with investors chasing the precious metal as
the euro weakened against the dollar on concerns over euro
zone debt and Ireland's bailout package.
FUNDAMENTALS
* Spot gold added $8.65 an ounce to $1,381.65 an
ounce by 0042 GMT, but it was still well below an historical
high around $1,430 hit earlier this month.
* U.S. gold futures for February rose $3.4 an
ounce to at $1,382.6 an ounce.
* The world's largest gold-backed exchange-traded fund,
SPDR Gold Trust , said its holdings rose to 1,298.940
tonnes by Dec 17 from 1,283.757 tonnes on Dec 16. The holdings
hit a record at 1,320.436 tonnes on June 29.
* The European Central Bank has expressed "serious
concerns" that Ireland's bailout package could affect the
institution's liquidity operations in the euro zone.
[]
* South Korea should not carry out military exercises
including live-fire from an island near its border with North
Korea at the present time, Russian U.N. envoy Vitaly Churkin
said on Sunday. []
* iShares Silver Trust , the world's largest
silver-backed exchange-traded fund, said its holdings dropped
to 10,903.34 tonnes by Dec 17 from a record of 10,964.14
tonnes on Dec 14. For details of the ETF's silver holdings,
click on:
http://link.reuters.com/wux96h
MARKET NEWS
* Japan's Nikkei was flat for a fifth straight session on
Monday, not far below a seven-month closing high hit last
week, as investors lacked strong trading incentives and volume
was set to edge lower as the year-end nears.
* The euro is likely to struggle anew in the upcoming week
as markets remain fearful about sovereign debt issues in the
peripheral euro zone economies, and investors are well-advised
to be short the currency going into 2011.
(GMT) DATA/EVENTS
0700 Germany Producer prices Nov
0830 Spain Economy secretary Campa speaks
0900 EZ Current account Oct
1330 U.S. Chicago Fed Index Nov
:: Japan BoJ starts two-day policy meeting
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Precious metals prices at 0042 GMT
Metal Last Change Pct chg YTD pctchg Turnover
Spot Gold 1381.65 8.65 +0.63 26.10
Spot Silver 29.33 0.23 +0.79 74.27
Spot Platinum 1702.50 6.00 +0.35 16.05
Spot Palladium 742.72 5.72 +0.78 83.16
TOCOM Gold 3747.00 23.00 +0.62 14.97 20654
TOCOM Platinum 4657.00 20.00 +0.43 6.30 3569
TOCOM Silver 79.50 0.60 +0.76 53.77 612
TOCOM Palladium 2028.00 8.00 +0.40 74.08 121
Euro/Dollar 1.3138
Dollar/Yen 84.09
TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Reporting by Lewa Pardomuan; Editing by Ed Lane)
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