PRECIOUS-Gold edges up on bargain hunting, U.S. dollar weighs
2012-03-14 08:20:58
SINGAPORE, March 14 (Reuters) - Gold regained some
strength on Wednesday on bargain hunting after prices dropped
about 2 percent in the previous session, but a firmer U.S.
dollar was likely to cap gains after the Federal Reserve vowed
to keep interest rates low until 2014.
FUNDAMENTALS
* Spot gold rose 80 cents to $1,675.55 an ounce by
0054 GMT. It fell to a low around $1,661 an ounce on Tuesday,
its weakest since late January, after the Fed offered no clues
on whether there will be another round of monetary easing.
* U.S. April gold extended losses, falling about 1
percent to $1,676.40 an ounce.
* The U.S. Federal Reserve on Tuesday gave few signals
about the prospects for further monetary easing, offering just a
slight upgrade to its economic outlook while restating concerns
about the high level of unemployment.
* Most of the largest U.S. banks passed their annual stress
test, the Federal Reserve revealed in an earlier-than-expected
release of the results, after JPMorgan Chase pulled the trigger
on announcing its glowing marks and helped lift the stock
market.
* For the top stories on metals and other news, click
, or
MARKET NEWS
* The dollar was broadly firmer early in Asia on Wednesday,
having hit a seven-week high against a basket of major
currencies as prospects for further easing by the Federal
Reserve faded in the wake of more upbeat U.S. data.
* U.S. crude oil futures rose for a second day on Wednesday
on the back of an improved outlook of the world's top economy,
but the gains were limited after industry data showed a
bigger-than-expected build-up in U.S. crude inventories.
* Japan's Nikkei share average climbed above 10,000 to a
fresh seven-month high on Wednesday after the Federal Reserve
upgraded its U.S. economic outlook and upbeat U.S. retail data
boosted Wall Street to its best day for 2012.
DATA/EVENTS (GMT)
0430 Japan Industrial output rev Jan
1000 EZ Industrial production yy Jan
1000 EZ Inflation, final yy Feb
1130 U.S. Import prices mm Feb
1130 U.S. Current account Oct <USCURA=ECI
PRICES
Precious metals prices 0054 GMT
Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1675.55 0.80 +0.05 7.15
Spot Silver 33.35 -0.03 -0.09 20.44
Spot Platinum 1691.08 9.65 +0.57 21.40
Spot Palladium 703.85 3.75 +0.54 7.87
COMEX GOLD APR2 1676.40 -17.80 -1.05 7.00 4785
COMEX SILVER MAY2 33.40 -0.18 -0.54 19.65 608
Euro/Dollar 1.3068
Dollar/Yen 83.17
TIME | |||||
---|---|---|---|---|---|
Sydney | Tokyo | Ha Noi | HongKong | LonDon | NewYork |
Prices By NTGOLD | ||
---|---|---|
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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