SINGAPORE, March 16 (Reuters) - Gold regained strength on
Wednesday after falling to a 1-month low in the previous
session, but declines in ETF holdings to their lowest in 10
months suggested that speculators could still sell bullion to
raise liquidity if equities extend losses.
FUNDAMENTALS
* Spot gold added $3.04 an ounce to $1,396.99 an
ounce by 0034 GMT, having fallen as low as $1,380.90 an ounce on
Tuesday, its weakest since mid-February. Gold was trading below
the 25-day moving average around $1,403.
* U.S. gold futures for April rose $4.5 an ounce to
$1,397.3 an ounce.
* The world's largest gold-backed exchange-traded fund, SPDR
Gold Trust , said its holdings fell further to 1,212.745
tonnes by March 15, their lowest since May of last year, from
1,213.655 tonnes on March 14.
* The Nikkei share average rose more than 6 percent
in early Wednesday trade, recapturing about half of its heavy
loss the previous day that was spurred by an escalating safety
crisis at a quake-stricken nuclear power facility.
MARKET NEWS
* The yen stood within a whisker of a record high against
the dollar early in Asia on Wednesday, while the Swiss franc
held at all-time highs as jitters about Japan's nuclear crisis
kept investors on edge.
* A key commodity index posted its second-biggest fall in
two years on Tuesday as the nuclear crisis in Japan sent fear
rippling through financial markets, driving investors toward
safer assets.
* Brent crude prices tumbled 4.5 percent on Tuesday, the
biggest drop in 13 months, as Japan's escalating nuclear crisis
sparked risk aversion across markets, outweighing concerns about
turmoil in Bahrain and Libya.
DATA EVENTS (GMT)
1000 EZ Inflation, final yy Feb 2011 1230
U.S. Build permits: change mm Feb 1230 U.S.
House starts mm: change Feb 1230 U.S. Housing
starts number mm Feb 1230 U.S. PPI inflation yy,
NSA Feb 1230 U.S. Producer prices mm Feb
1230 U.S. Producer prices, core mm Feb
1230 U.S. Producer prices, core yy Feb
1230 U.S. Current account Oct
Precious metals prices 0034 GMT
Metal Last Change Pct chg YTD pct chg Turnover
Spot Gold 1396.99 3.04 +0.22 -1.58
Spot Silver 34.34 0.05 +0.15 11.28
Spot Platinum 1707.24 7.24 +0.43 -3.41
Spot Palladium 705.99 1.49 +0.21 -11.70
TOCOM Gold 3655.00 -77.00 -2.06 -1.98 52326
TOCOM Platinum 4490.00 -80.00 -1.75 -4.39 14807
TOCOM Silver 88.70 -3.40 -3.69 9.51 1957
TOCOM Palladium 1843.00 -59.00 -3.10 -12.11 948
Euro/Dollar 1.3978
Dollar/Yen 81.06
TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Reporting by Lewa Pardomuan; Editing by Himani Sarkar)
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