By Rujun Shen
SINGAPORE, Dec 14(Reuters) - Spot gold edged higher on
Tuesday, as investors await a U.S. Federal Reserve
announcement on interest rates and assessment of the economy,
as well as continue to focus on the possibility of new
monetary policy moves by China to combat inflation.
FUNDAMENTALS
* Spot gold edged up 0.3 percent to $1,396.6 an
ounce by 0031 GMT.
* U.S. gold futures was little changed at $1,397.4.
* The Federal Reserve policy board meets later Tuesday and
is expected to reaffirm its quantitative easing policy even
while acknowledging the better run of data recently.
[]
* Holdings in the iShares Silver Trust slipped from its
record high of 10,941.34 tonnes hit on Dec 7, to 10,891.18
tonnes on Dec 13.
* Spot silver edged up 0.3 percent to $29.56 an
ounce.
* Goldcorp Inc , the world's second largest gold
company by market capitalisation, said it got approval for the
development of the Cerro Negro gold project in Argentina.
[]
* Investors are also closely watching monetary policy
maneuvers in China, where the government has vowed to fight
rising inflation and raised reserve ratio requirement for
banks for the third time last week.
* But there are signs that monetary policy might not be as
tight as feared. China will probably target about 7.5 trillion
yuan ($1.1 trillion) in new loans next year, level with its
2010 target, a leading official newspaper said. []
MARKET NEWS
* The Nasdaq closed lower to end eight straight days of
gains on Monday as some large-cap tech stocks slid in a
late-day sell-off.
* The euro hovered near three-week highs against a broadly
weaker dollar early in Asia on Tuesday with traders citing
solid buying from accounts including Asian central banks that
overwhelmed hedge fund selling, triggering stops along the
way.
(GMT) DATA/EVENTS
1000 EZ Industrial output Oct
1000 Germany ZEW Current conditions Dec
1000 Germany ZEW Economic sentiment Dec
1245 U.S. ICSC chain stores yy Weekly
1330 U.S. PPI inflation y/y, NSA Nov
1330 U.S. Producer prices mm Nov
1330 U.S. Producer prices, core mm Nov
1330 U.S. Producer prices, core yy Nov
1330 U.S. Retail sales mm Nov
1355 U.S. Redbook mm Weekly
1500 U.S. Business Inventories mm Oct
1915 U.S. FOMC rate decision Dec
RELATED NEWS
> US tax deal clears first test in Congress
> Nasdaq slips after rally; Dow trims gain on China
> ECB mulls capital increase for euro
crisis-sources
> US senators push for China currency bill
> China extends top banks' reserve requirements
> Japan PM Kan orders 5 pct corporate tax cut
> German economy to slow, pick up again-Buba
> BIS, EIB say Germany stoked euro crisis
> Oil up on China data amid caution about inflation
> Copper hits record highs as China holds rates
> Berlusconi offers pact to rebels ahead of vote
> Canada warns on rising risk of debt
> Slow UK growth may warrant more QE-BoE's Bean
PRICES
Precious metals prices at 0031 GMT
Metal Last Change Pctchg YTD pctchg Turnover
Spot Gold 1396.60 3.45 +0.25 27.46
Spot Silver 29.56 0.08 +0.27 75.64
Spot Platinum 1697.25 1.51 +0.09 15.70
Spot Palladium 755.50 1.03 +0.14 86.31
TOCOM Gold 3759.00 -3.00 -0.08 15.34 21131
TOCOM Platinum 4611.00 -1.00 -0.02 5.25 4458
TOCOM Silver 79.60 1.10 +1.40 53.97 873
TOCOM Palladium 2040.00 20.00 +0.99 75.11 436
Euro/Dollar 1.3378
Dollar/Yen 83.48
TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Reporting By Rujun Shen; Editing by Ed Lane)
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
))
