LONDON, Oct 22 (Reuters) - Gold rose on Friday due to an
easing dollar ahead of a G20 finance ministers meeting in South
Korea and bargain hunting from the jewellery sector, but the
currency was still headed for its biggest weekly fall since
July. []
PRICES
* Spot gold <XAU=> was bid at 1,327.45 at 0635 GMT from
$1,323.60 late in New York on Thursday.
* Silver <XAG=> was at $23.27 from $23.18.
* Platinum <XPT=> at $1,675 from $1,665.95
* Palladium <XPD=> at $589.78 from $581.53
DATA/EVENTS
* Meeting of G20 finance ministers, central bank governors,
Gwangju, South Korea.
* 0800 GMT German IFO survey for October
* 1645 GMT Federal Reserve Bank of Philadelphia President
Charles Plosser speaks on regulatory reform.
[] [] [] [] []
MARKET NEWS
* Dealers trimmed bets against the U.S. dollar on Friday
ahead of a contentious G20 meeting, while a rally in technology
shares supported Asian stocks, which were headed for the first
weekly decline in two months. []
* The euro and the Australian dollar hit their intraday
highs, extending gains made earlier on Friday after U.S.
Treasury Secretary Timothy Geithner said in a letter to G20
finance chiefs that the Group of 20 nations should refrain from
currency policies aimed at gaining a competitive edge. []
* Oil rose on Friday as the dollar weakened, after jobs and
business activity data signalled the U.S. economy would require
additional stimulus. []
* Wall Street edged higher in a volatile session on
Thursday, torn between strong corporate earnings and a surge in
the U.S. dollar. []
* European shares were set to dip on Friday, retreating
after key indexes hit their highest closing levels in six months
a day earlier. []
FUNDAMENTALS
* The world's largest gold-backed exchange-traded fund, SPDR
Gold Trust <GLD.P>, said its holdings slipped to 1,298.266
tonnes by Oct. 21 from 1,299.177 tonnes on Oct 20. The holdings
hit a record at 1,320.436 tonnes on June 29. []
* African Barrick Gold attributable production falls 23 pct
to 164,996 ounces. []
* South Africa's National Union of Mineworkers said on
Friday that an employee died after inhaling noxious gases at
Impala Platinum's <IMPJ.J> number 11 shaft in Rustenburg.
[]
* Freeport-McMoRan Copper & Gold Inc <FCX.N> beat Wall
Street estimates on Thursday with a 30 percent jump in
third-quarter profit on soaring prices for gold and other
metals.[]
* Brazil's government will likely wait at least until the
next administration takes office in 2011 before changing a
mining law and discussing a possible royalty hike, a government
official told Reuters. []
TECHNICALS
* Gold support at $1,309 an ounce, resistance at $1,339 and
14-day RSI at 50.1.
* Platinum support at $1,663 an ounce, resistance at $1,687
and 14-day RSI at 56.2.
* Silver support at $22.65 an ounce, resistance at $23.65
and 14-day RSI at 57.5.
For related news and prices, click on the codes in brackets:
Spot gold/silver <XAU=> <XAG=> Platinum/palladium <XPT=><XPD=>
Gold lease rates <LGLR> Comex gold futures <0#GC:>
Europe/Asia prices <GOLD/EU1> <GOLD/EU2> <GOLD/ASIA1>
CBOT 100 oz gold futures <0#ZG:>
RELATED NEWS AND OTHER TOPICS
Precious metals news [] All metals news []
Metals summary [] Index of summaries []
All commodities news [] Metals diary []
Ldn Bullion Mkt Assoc <LBMA01> Foreign exchange rates <FX=S>
SPEED GUIDES
<COMMODS> <PRECIOUS1> <PRECIOUS/FUT1> <PRECIOUS/CASH1>
<PRECIOUS/SWAP1> <PRECIOUS/VOL1> <REUTERS>
(Reporting by Melanie Burton, editing by Jane Baird
