PRECIOUS-Gold bounces after 2 pct drop, dollar eyed
2012-03-15 08:48:50
SINGAPORE, March 15 (Reuters) - Gold regained some
strength on Thursday after a drop in the previous session
attracted bargain hunters, but a strong dollar and worries that
monetary easing in the world's largest economy was over for now
made the metal vulnerable to more selling.
FUNDAMENTALS
* Spot gold added 56 cents to $1,642.66 an ounce by
0044 GMT after falling about 2 percent on Wednesday.
* U.S. April gold was steady at $1,643.20 an ounce.
* The dollar was holding hefty gains in Asia on Thursday
after yet another stellar offshore session, as optimism about
the U.S. economic recovery sparked a spike in Treasury yields.
* Developed economies will pick up steam this year thanks
to an array of ultra-loose monetary policies from major central
banks and amid new signs of progress in the euro zone's debt
crisis, Reuters polls found.
* Premier Wen Jiabao said on Wednesday China must embrace
slower growth and bolder political reform to keep its economy
from faltering. He also dampened hopes for any near-term easing
measures in the country's property sector.
* For the top stories on metals and other news, click
, or
MARKET NEWS
* Asian shares eased on Thursday on renewed concerns about
Chinese growth, but a brighter global economic outlook
underpinned the dollar, reducing the appeal of safe-haven
government debts.
* U.S. crude futures edged up on Thursday, paring the
previous session's 1.2-percent decline, but a strong dollar and
bulging crude inventories in the world's top oil consumer kept a
lid on gains.
DATA/EVENTS (GMT)
0630 India Repo Rate
1230 U.S. Jobless claims Weekly
PRICES
Precious metals prices 0044 GMT
Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1642.66 0.56 +0.03 5.04
Spot Silver 32.12 0.02 +0.06 16.00
Spot Platinum 1663.99 -6.69 -0.40 19.45
Spot Palladium 694.97 -0.24 -0.03 6.51
COMEX GOLD APR2 1643.20 0.30 +0.02 4.88 2542
COMEX SILVER MAY2 32.14 -0.05 -0.14 15.12 1250
Euro/Dollar 1.3019
Dollar/Yen 83.98
TIME | |||||
---|---|---|---|---|---|
Sydney | Tokyo | Ha Noi | HongKong | LonDon | NewYork |
Prices By NTGOLD | ||
---|---|---|
We Sell | We Buy | |
37.5g ABC Luong Bar | ||
5,229.50 | 4,829.50 | |
1oz ABC Bullion Cast Bar | ||
4,347.20 | 3,967.20 | |
100g ABC Bullion Bar | ||
13,931.50 | 12,831.50 | |
1kg ABC Bullion Silver | ||
1,684.00 | 1,334.00 |
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