SINGAPORE, March 10 (Reuters) - Gold held steady on Thursday below a record
high reached this week with investors focused on a rebound in oil prices linked
to mounting unrest across the Arab World, and renewed concern about euro zone
debt, all supporting the metal's safe haven appeal.
FUNDAMENTALS
* Spot gold shed 59 cents to $1,428.20 by 0033 GMT, having struck a
record high of $1,444.40 an ounce on Monday.
* U.S. gold futures for April barely moved at $1,428.8 an ounce. The
contract hit record at $1,445.70 on Monday.
* A Libyan insurgent said rebels had retaken the heart of the closest city
to the capital from forces loyal to Muammar Gaddafi on Wednesday evening in some
of the fiercest fighting in almost three weeks of clashes.
* China's import of commodities, most of which posted strong increases in
January, may finally show signs of easing in February as an extended holiday
season disrupted shipments and high prices cut orders.
MARKET NEWS
* Japan's Nikkei average fell on Thursday after U.S. stocks were weaker but
buying of stocks with high dividend yields may limit the decline as the March
ex-dividend date is nearing.
* Brent oil prices rebounded towards $116 a barrel on Wednesday as intense
fighting in Libya stoked more supply worries and U.S. crude fell as inventories
rose sharply, widening Brent's premium against U.S. crude.
Renewed worries over fiscal problems for several euro zone countries also
weighed on the market.
DATA EVENTS (GMT)
0745 France Industrial output mm Jan 2011
0900 Italy Industrial output yy WDA Jan 2011
1200 Britain BoE rate decision Mar 2011
1330 U.S. Unemployment claims Weekly
1330 U.S. International trade Jan N/A China Exports yy Feb 2011
N/A China Imports yy Feb 2011 N/A China Trade
balance Feb 2011
Precious metals prices 0033 GMT
Metal Last Change Pct chg YTD pct chg Turnover
Spot Gold 1428.20 -0.59 -0.04 0.62
Spot Silver 35.94 -0.11 -0.31 16.46
Spot Platinum 1795.74 -0.75 -0.04 1.60
Spot Palladium 777.72 0.75 +0.10 -2.72
TOCOM Gold 3812.00 -1.00 -0.03 2.23 19601
TOCOM Platinum 4855.00 -25.00 -0.51 3.39 4544
TOCOM Silver 95.10 -0.30 -0.31 17.41 426
TOCOM Palladium 2077.00 -38.00 -1.80 -0.95 176
Euro/Dollar 1.3915
Dollar/Yen 82.78
TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Reporting by Lewa Pardomuan; 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
