PRECIOUS-Gold rebounds on euro, focus on Fed meeting
2012-03-13 08:13:45
FUNDAMENTALS * Gold added $1.20 an ounce to $1,700.25 an ounce by 0030 GMT, having fallen slightly on Monday, but dwindling expectations for the Fed to signal the need for more measures to keep U.S. rates low could have an effect on the metal. * Gold rallied to an all time high around $1,920 an ounce last September. * U.S. gold rose $1.20 an ounce to $$1,701 an ounce. * Recent signs of improvement in the U.S. labour market are spurring economists at major Wall Street firms to rethink how aggressive the Fed needs to be in applying further monetary stimulus, a Reuters poll showed. * Bullion investors are cautious after Friday's U.S. data showed net long futures positions held by money managers, including hedge funds, posted the biggest one-week drop since August. Bullish bets in silver futures also tumbled. * For the top stories on metals and other news, click , or MARKET NEWS * The dollar stayed on the defensive in Asia on Tuesday, having retreated from a seven-week high against a basket of major currencies on some caution the Fed might sound more dovish than expected at its policy meeting. * The euro bounced off a one-month low to $1.3153, finding support at its 55-day moving average around $1.3081. * Japan's Nikkei share average opened higher on Tuesday as participants looked for signs of further easing from the Bank of Japan later in the day, while the softer yen continued to underpin market sentiment. DATA/EVENTS (GMT) 1000 Germany ZEW economic sentiment Mar 1045 U.S. ICSC chain stores yy Weekly 1130 U.S. Retail sales mm Feb 1300 U.S. Business inventories mm Jan 1615 U.S. FOMC rate decision Dec PRICES Precious metals prices 0034 GMT Metal Last Change Pct chg YTD pct chg Volume Spot Gold 1700.25 1.20 +0.07 8.73 Spot Silver 33.60 0.02 +0.06 21.34 Spot Platinum 1689.74 1.64 +0.10 21.30 Spot Palladium 698.47 2.62 +0.38 7.05 COMEX GOLD APR2 1701.00 1.20 +0.07 8.57 3294 COMEX SILVER MAY2 33.64 0.23 +0.68 20.51 211 Euro/Dollar 1.3163 Dollar/Yen 82.36 COMEX gold and silver contracts show the most active months
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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 | ||
5,239.80 | 4,839.80 | |
1oz ABC Bullion Cast Bar | ||
4,355.80 | 3,975.80 | |
100g ABC Bullion Bar | ||
13,959.20 | 12,859.20 | |
1kg ABC Bullion Silver | ||
1,695.60 | 1,345.60 |
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