INGAPORE, Jan 13 (Reuters) - Spot gold traded steady
just below $1,650 an ounce on Friday, headed for a second week
of straight gains, after smooth sales of Spanish and Italian
debt temporarily eased fears on the euro zone debt crisis.	
    	
    FUNDAMENTALS	
    * Spot gold was little changed at $1,648.79 an ounce
by 0041 GMT, on course for a weekly gain of 1.9 percent.	
    * U.S. gold gained 0.2 percent to $1,650.50.	
    * A solid sale of Spanish and Italian debt and an upbeat
comment on the euro zone economy helped the single currency
stage a rally and send gold up for the third consecutive session
on Thursday.  	
    * Italy is scheduled to sell long-term bonds on Friday,
which will continue to test investors' confidence in the
European debt market.	
    * U.S. data showed that retail sales rose at the weakest
pace in seven months in December and jobless benefits moved
higher last week, suggesting the economic recovery is shaky
despite a recent pick-up in growth. 	
    * For the top stories on metals and other news, click
, or 	
    	
    MARKET NEWS	
    * The S&P 500 closed at a five-month high for the third day
on Thursday but had difficulty extending gains in the face of
lackluster economic data and another European bond market test. 
 	
    * The euro held its ground in Asia on Friday, having risen
broadly overnight after debt sales in Spain and Italy drew solid
demand, raising expectations that an auction of longer-dated
Italian bonds later in the day will also do well. 	
    * Oil prices were steady above $99 a barrel, after tumbling
in the previous session on a report that a proposed European
Union ban on imports of Iranian crude would be phased in over
six months. 	
    	
    DATA/EVENTS	
 1000  EZ    Eurostat trade nsa, EUR           Nov                 
 1200        JPMorgan Chase & Co earnings      Q4                
 1330  U.S.  International trade               Nov
 1445  U.S.  Thomson Reuters/UMich consumer sentiment Jan 
 2030  U.S.  CFTC commitment of traders data  Weekly
                                                                  
    	
    PRICES	
     Precious metals prices 0041 GMT
  Metal             Last    Change  Pct chg  YTD pct chg    Volume
  Spot Gold        1648.79   -1.01   -0.06      5.43
  Spot Silver        30.20   -0.06   -0.20      9.06
  Spot Platinum    1484.49   -6.50   -0.44      6.57
  Spot Palladium    630.50   -5.75   -0.90     -3.37
  COMEX GOLD FEB2  1650.50    2.80   +0.17      5.34         1715
  COMEX SILVER MAR2  30.23    0.11   +0.35      8.29          252
  Euro/Dollar       1.2822
  Dollar/Yen         76.79
  COMEX gold and silver contracts show the most active months 
 	
 (Reporting by Rujun Shen; Editing by Himani Sarkar)

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