SINGAPORE, Jan 4 (Reuters) - Spot gold edged higher on
Tuesday, after data showed improved manufacturing output in
the United States, signalling more traction for the global
economic recovery.
FUNDAMENTALS
* Spot gold gained $1.80 at $1,415.8 an ounce by
0021 GMT.
* U.S. gold futures lost 0.5 percent at $1,415.6.
* U.S. manufacturing grew at its fastest pace in seven
months in December, extending a recent run of encouraging
economic data and suggesting that expansion of the world's
biggest economy will accelerate in 2011. []
* The dollar was broadly firmer early in Asia on Tuesday,
with the yen on the backfoot after upbeat data suggested the
world's biggest economy will accelerate in 2011.
* Worries about inflation down the road will continue to
drive investors to gold, making up for the waning safe-haven
demand as the global economy is back on track.
* Holdings in the SPDR Gold Trust and iShares Silver
Trust , the world's largest physically backed
exchange-traded gold and silver funds respectively, remained
unchanged.
* Trade is expected to pick up, as markets in China,
Japan, Australia and other countries reopen after the holiday.
* Asset rebalancing by commodity indexes and mounting
signs of a well-rooted economic recovery are expected to keep
a tide of money flowing into commodities this week, pushing
prices to new highs. []
MARKET NEWS
* U.S. stocks greeted the new year with a rally on Monday
as encouraging signs about the outlook for manufacturing
around the world prompted investors to inject new money into
the market.
DATA/EVENTS (GMT)
0000 U.S. Total Vehicle Sls Dec
0900 Germany Unemployment rate sa Dec 2010
1000 EZ Inflation, flash yy Dec 2010
1245 U.S. ICSC chain stores yy Weekly
RELATED NEWS
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> Wall St leaps in first session of 2011
> Oil up at 27-month peak on economic data, cold
> Brazil's Rousseff quickly tackles spending, China
> European stocks start new year with broad rally
> BofA in settlement with Fannie Mae, Freddie Mac
> Asian, European car makers look to 2011 growth
> UK minister wants limited rise in house prices
> China factory inflation eases, yuan hits record
> Euro rallies vs most currencies on U.S. stocks
> Mid-America economy and inflation to grow - survey
PRICES
Precious metals prices 0021 GMT
Metal Last Change Pct chg YTD pct chg Turnover
Spot Gold 1415.80 1.80 +0.13 -0.26
Spot Silver 30.67 0.01 +0.03 -0.62
Spot Platinum 1766.74 0.74 +0.04 -0.04
Spot Palladium 789.47 -0.50 -0.06 -1.25
TOCOM Gold 3729.00 14.00 +0.38 0.00 4845
TOCOM Platinum 4709.00 21.00 +0.45 0.28 2259
TOCOM Silver 81.00 0.00 +0.00 0.00 226
TOCOM Palladium 2095.00 -2.00 -0.10 -0.10 50
Euro/Dollar 1.3354
Dollar/Yen 81.64
TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Reporting By Rujun Shen; Editing by Ed Lane)
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