SINGAPORE, Dec 13(Reuters) - Spot gold held steady on
Monday, after posting a 2.2 percent decline last week, but the
dollar stayed firm after optimistic U.S. data and weighed on
the sentiment.
FUNDAMENTALS
* Spot gold was little changed at $1,383.55 an
ounce by 0034 GMT, after posting a 2.2 percent weekly decline,
its sharpest in more than a month.
* U.S. gold futures edged down 80 cents to $1,384.1
an ounce.
* China's further tightening move and encouraging data
from the U.S. weakened safe-haven appeal of gold, as investors
turn to riskier assets.
* A rise in U.S. consumer confidence to its highest in six
months and a much bigger-than-expected contraction in the
country's trade deficit pointed to a firmer economic recovery
on Friday. []
* Holdings in the world's largest gold-backed
exchange-traded fund, SPDR Gold Trust , continued to
slide, down nearly four tonnes to 1,289.83 tonnes by Dec 10,
their lowest level so far this month.
* While holdings in iShares Silver Trust, the world's
largest physically backed exchange-traded fund, remained at
the record level of 10,941.34 tonnes.
* Spot palladium rose by 0.9 percent to $734.47 an
ounce, leading the precious metals complex.
* Prices of the platinum group metals, especially
platinum, have plenty of headroom above current levels, based
on their historic relationship with silver. []
MARKET NEWS
* U.S. stocks rose on Friday, with the S&P 500 at its
highest level since the week Lehman Brothers collapsed in
2008, and breaching technical levels that suggest the year-end
rally will persist.
* The dollar was modestly firmer against a basket of
currencies, while the euro was nearly flat around $1.3200.
(GMT) DATA/EVENTS
1830 GMT EZ ECB President Trichet speech
RELATED NEWS
> China leaders emphasize fighting inflation
> Backers, critics see passage of Obama tax deal
> Consumer sentiment, trade signal firm US recovery
> Don't bet against euro -German finance minister
> Dollar emerges as funding currency of choice-BIS
> ECB's Stark: Govts should solve debt crisis
> EU leaders to agree euro stability change-draft
> Portugal prime minister says no need for IMF aid
> France wants debate to push G20 goals-Lagarde
> Irish opposition party says IMF/EU deal too costly
PRICES
Precious metals prices at 0034 GMT
Metal Last Change Pct chg YTD pctchg Turnover
Spot Gold 1383.55 0.40 +0.03 26.27
Spot Silver 28.57 0.02 +0.07 69.76
Spot Platinum 1672.99 7.89 +0.47 14.04
Spot Palladium 734.47 6.19 +0.85 81.13
TOCOM Gold 3742.00 -11.00 -0.29 14.82 23572
TOCOM Platinum 4567.00 -8.00 -0.17 4.25 3640
TOCOM Silver 77.50 -0.80 -1.02 49.90 664
TOCOM Palladium 2003.00 -22.00 -1.09 71.93 325
Euro/Dollar 1.3203
Dollar/Yen 83.89
TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Reporting By Rujun Shen)
Reuters Terminal users can
see related news and prices by
double clicking on the
codes in brackets:
- All precious metals headlines
- Precious metals market reports
- Daily fixing
headlines
- Technical analysis
-
Indian gold reports
- European gold prices
<0#PREC>
- London interbank gold
forward rates <0#GOFO=>
- London silver forwards
- Gold lease rates <0#LGLR=>
-
London Bullion Market Association
- New York
Comex gold <0#GC:> and silver <0#SI:>
- New York
platinum <0#PL:> and palladium <0#PA:>
- Asian
gold prices <0#PREC>
- Australian
precious metals prices <0#AUPREC=>
- Shanghai Gold Exchange prices
-
Hong Kong gold exchange prices
- Hong
Kong bullion prices
- Indian bullion
prices <0#PREC-IN>
- Japanese producer prices
For Related News and other topics,
double click on one of
these
codes: SPEED GUIDES
))
