SINGAPORE, Jan 5 (Reuters) - Gold edged higher on
Wednesday, after sinking more than two percent in the previous
session in line with a broad sell-off in commodities as a
stronger dollar pressured prices.
FUNDAMENTALS
* Spot gold gained 0.3 percent at $1,383.40 an
ounce by 0032 GMT, recovering from a two-week low of $1,372
hit in the previous session.
* U.S. gold futures rose by 0.4 percent at $1,383.6.
* Holdings in the SPDR Gold Trust , the world's
largest gold-backed exchange-traded fund, fell to a
seven-month low of 1,276.472 tonnes by Jan 4.
* Federal Reserve officials in December felt the U.S.
economic recovery was still weak enough to warrant monetary
support despite growing signs of strength, Fed meeting minutes
released on Tuesday showed. []
* The dollar held firm early in Asia on Wednesday in the
wake of further evidence that bolstered hopes of a sustainable
U.S. economic recovery, while the Australian dollar was
pressured by a correction to high-flying commodity prices.
* The 19-commodity Reuters-Jefferies CRB dropped
nearly two percent in its sharpest one-day fall since
mid-November.
* Spot silver was nearly flat to $29.75 an ounce,
after falling nearly three percent in the previous session.
MARKET NEWS
* Investors abandoned red-hot commodity shares on Tuesday,
while fears of lower supermarket profits hit food retailers,
sending the S&P and Nasdaq lower.
DATA/EVENTS (GMT)
1100 Brazil Industrial Output y/y Nov
1500 U.S. ISM N-Mfg PMI Dec
1500 U.S. ISM N-Mfg Bus Act Dec
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PRICES
Precious metals prices 0032 GMT
Metal Last Change Pct chg YTD pct chg Turnover
Spot Gold 1383.40 3.67 +0.27 -2.54
Spot Silver 29.75 -0.02 -0.07 -3.60
Spot Platinum 1737.00 -16.24 -0.93 -1.73
Spot Palladium 774.75 -0.22 -0.03 -3.10
TOCOM Gold 3663.00 -89.00 -2.37 -1.77 46227
TOCOM Platinum 4653.00 -79.00 -1.67 -0.92 7066
TOCOM Silver 78.80 -2.80 -3.43 -2.72 1242
TOCOM Palladium 2060.00 -42.00 -2.00 -1.76 293
Euro/Dollar 1.3293
Dollar/Yen 81.97
TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Reporting By Rujun Shen; Editing by Ed Lane)
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