PRECIOUS-Gold stalls as Greek bailout awaits EU approval
2012-02-14 08:23:40
SINGAPORE, Feb 14 (Reuters) - Gold hesitated to make moves on Tuesday, as investors focus on whether Greece will be able to convince Europe to grant a much-needed bailout by Wednesday, while contagion concerns remain. FUNDAMENTALS * Spot gold inched down $1.40 to $1,721.09 an ounce by 0036 GMT. U.S. gold was little changed at $1,723.50. * Investors remain jittery over Greece's bailout, as Europe gave Greece until Wednesday to convince sceptical international creditors that it would stick to the punishing terms of a multi-billion-euro rescue package, endorsed by parliament as rioters torched downtown Athens. * Rating agency Moody's warned on Monday it may cut the triple-A ratings of France, the United Kingdom and Austria, while it downgraded the ratings of Italy, Portugal, Spain, Slovakia, Slovenia and Malta. * Meanwhile, Fitch lowered its ratings on four big Spanish banks while Standard & Poor's cut its rating for the industry as a whole. * The Shanghai Gold Exchange plans to launch over-the-counter gold trading on the interbank market, and to start exchange-traded gold funds, to tap rising demand in China. * For the top stories on metals and other news, click , or MARKET NEWS * U.S. stocks rose on Monday, with the S&P 500 near seven-month highs, after Greece's parliament approved reforms needed to qualify for a bailout and avoid an unruly default. * The euro inched lower against the dollar on Tuesday, reversing gains in the previous session, weighed by worries about hurdles in the country's bid to avoid a messy default. DATA/EVENTS 0300 Japan BOJ rate decision Feb 2012 0430 Japan Industrial output rev Dec 2011 1000 EZ Industrial production yy Dec 2011 1000 Germany ZEW economic sentiment Feb 2012 1245 U.S. ICSC chain stores yy Weekly 1330 U.S. Import prices mm Jan 1330 U.S. Retail sales mm Jan 1500 U.S. Business inventories mm Dec PRICES Precious metals prices 0036 GMT Metal Last Change Pct chg YTD pct chg Volume Spot Gold 1721.09 -1.40 -0.08 10.06 Spot Silver 33.62 -0.07 -0.21 21.42 Spot Platinum 1644.49 0.41 +0.02 18.05 Spot Palladium 694.13 -1.09 -0.16 6.38 COMEX GOLD APR2 1723.50 -1.40 -0.08 10.00 2256 COMEX SILVER MAR2 33.63 -0.10 -0.29 20.45 389 Euro/Dollar 1.3166 Dollar/Yen 77.54 COMEX gold and silver contracts show the most active months
TIME | |||||
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Sydney | Tokyo | Ha Noi | HongKong | LonDon | NewYork |
Prices By NTGOLD | ||
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We Sell | We Buy | |
37.5g ABC Luong Bar | ||
5,333.50 | 4,913.50 | |
1oz ABC Bullion Cast Bar | ||
4,426.80 | 4,026.80 | |
100g ABC Bullion Bar | ||
14,205.60 | 12,905.60 | |
1kg ABC Bullion Silver | ||
1,728.40 | 1,378.40 |
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