By Lewa Pardomuan
SINGAPORE, Jan 12 (Reuters) - Gold edged up in thin trade
on Wednesday, with sentiment supported by high oil prices and
lingering worries about the severity of the European debt
crisis.
FUNDAMENTALS
* Spot gold rose $2.31 an ounce to $1,382.76 an
ounce by 0026 GMT. Gold was well below a historical high of
around $1,430 struck in December.
* U.S. gold futures for February fell $1.5 an ounce
to $1,382.8 an ounce, having settled $10.2 higher on Tuesday.
* The world's largest gold-backed exchange-traded fund,
SPDR Gold Trust , said its holdings slipped to 1,271.467
tonnes by Jan 11 from 1,272.682 tonnes on Jan 10.
MARKET NEWS
* U.S. oil prices steadied above $91 on Wednesday
following a sharp rally the previous session, supported by the
shutdown of two North Sea oil fields and the continued outage
of a key Alaskan pipeline.
* The euro struggled to advance against the greenback
early in Asia on Wednesday after posting two straight days of
gains, with little upside potential seen in the short term as
caution set in ahead of debt sales from highly indebted euro
zone members. [USD/
* The Nikkei stock average rose to a fresh eight-month
high on Wednesday, helped by gains in U.S. stocks and a
slightly weaker yen.
(GMT) DATA/EVENTS
0530 India Industrial Output y/y Nov 2010 0900 Italy
Industrial output yy WDA Nov 2010 1000 EZ Industrial
production yy Nov 2010 1900 U.S. Federal budget, $ Dec
1330 U.S. Import prices mm Dec
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> Portugal PM rules out aid, cenbank outlook gloomy
> US Fed officials offer dueling views on policy
> Euro zone to discuss rescue fund capacity Jan. 17
> China overshoots loan target, tightening to come
> Surveys paint bleak picture for British economy
> Canada house starts drop on Ontario condo slump
> Australia floods inundate Brisbane, many missing
> Spain plans 10-year syndicated bond in Jan-IFR
> S.Korea joins global action to boost food supply [nL3E7CB06V
Precious metals prices at 0026 GMT
Metal Last Change Pct chg
YTD pct chg Turnover
Spot Gold 1382.76 2.31 +0.17
26.20
Spot Silver 29.62 0.12 +0.41
76.00
Spot Platinum 1764.24 -1.75 -0.10
20.26
Spot Palladium 779.47 -2.53 -0.32
92.22
TOCOM Gold 3718.00 31.00 +0.84
14.08 25536
TOCOM Platinum 4788.00 80.00 +1.70
9.29 12181
TOCOM Silver 79.80 1.80 +2.31
54.35 989
TOCOM Palladium 2108.00 62.00 +3.03
80.94 488
Euro/Dollar 1.2980
Dollar/Yen 83.31
TOCOM prices in yen per gram. Spot prices
in $ per ounce.
(Reporting by Lewa Pardomuan; Editing by Clarence Fernandez)
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