TOKYO, Sept 1 (Reuters) - Gold edged back above $950 an ounce
on Tuesday, after falling 0.5 percent the previous day on selling
by short-term investors due to caution in the face of tumbling
Chinese equities and a fall in oil prices.
FUNDAMENTALS
* Gold <XAU=> edged up to $950.40 an ounce by 0009 GMT, up 0.1
percent from New York's notional close of $949.65.
* It hit a three-week high of $961.00 on Friday.
* U.S. gold futures for December delivery <GCZ9> were at
$952.30 an ounce. On Monday the contract fell $5.30 to $953.50 on
the COMEX division of the New York Mercantile Exchange.
* The world's largest gold-backed exchange-traded fund, the
SPDR Gold Trust <GLD>, said holdings stood at 1,061.83 tonnes on
Monday, unchanged since Aug. 25. []
* The amount of metal Zurich Cantonal Bank holds to back its
platinum exchange-traded fund rose nearly 8,000 ounces, or 4.5
percent, in the week to Aug. 28, the bank said on Monday.
[]
* ETF Securities said on Monday the amount of bullion it
holds to back its three gold exchange traded commodities rose 6.1
percent in the week to Aug 28. []
MARKET NEWS
* The yen held firm on Tuesday, having hit seven-week highs
in the previous session, while high-yielding currencies like the
Australian and New Zealand dollars were also strong ahead of a
rate decision in Australia. []
* U.S. crude oil <CLc1> hovered below $70 per barrel after
falling 4 percent on Monday as fear of a curb in Chinese bank
lending dented optimism about the pace of economic recovery and a
potential rebound in global energy demand. []
* Japan's Nikkei share average <> was down 0.1 percent.
[]
* U.S. stocks declined on Monday, pressured as a sharp drop
in Chinese equities led to a drop in the price of U.S. crude oil
futures and weakness in the energy sector. []
DATA EVENTS
* The following data is expected on Tuesday: <ECON>
- China NBS PMI for August (0100 GMT)
- China HSBC PMI for August (0230 GMT)
- Reserve Bank of Australia policy board meeting (0430 GMT)
- Swiss Q2 GDP (0545 GMT)
- Germany July retail sales (0600 GMT)
- Euro zone August manufacturing PMI (0758 GMT)
- Germany August jobs data (0800 GMT)
- UK July consumer credit, mortgage credit (0830 GMT)
- U.S. ISM manufacturing index for August (1400 GMT)
- U.S. pending home sales for July (1400 GMT)
- U.S. auto sales for August (N.A.)
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PRICES
Precious metals prices at 0005 GMT
Metal Last Change Pct chg Day ago pct MA 30 RSI
Spot gold $951.35 $1.70 +0.18% +6.06% $860.10 56
Spot silver $14.83 -$0.06 -0.40% +23.79% $11.29 68
Spot plat $1234.50 -$2.50 -0.20% -0.36% $1234.07 51
COMEX gold $952.00 $7.70 +0.82% +0.79% $948.08 55
TOCOM gold 2,853 -2 -0.07% -0.94% 2,904 43
TOCOM plat 3,706 -10 -0.27% -1.83% 3,770 43
Currencies
Euro/dlr $1.434 $0.009 +0.65% +0.32%
Dlr/yen 92.93 -1.31 -1.39% -1.32%
TOCOM prices in yen per gram, except TOCOM silver which is
priced in yen per 10 grams. Spot prices in $ per ounce.
(Reporting by Risa Maeda; Editing by Chris Gallagher)
