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PRECIOUS-Gold edges up as dollar weakness persists
2012-03-26 08:15:41

SINGAPORE, March 26 (Reuters) - Gold prices edged higher on
Monday, building on gains in the previous session, as the dollar
wallowed near a two-week low against a basket of currencies and
supported sentiment for bullion.	
    	
    FUNDAMENTALS	
    * Spot gold edged up 0.3 percent to $1,666.89 an
ounce by 0038 GMT, after rising more than 1 percent last Friday.	
    * U.S. gold gained 0.3 percent to $1,666.70.	
    * The dollar index dropped to a two-week low on
Friday on U.S. home sales data, which showed new U.S.
single-family home sales fell in February while prices jumped to
their highest level in eight months. 	
    * Money managers in gold futures and options cut their
bullish bets for a third straight week to the weakest level in
two months, as bullion prices tumbled after a strong run of U.S.
economic data triggered fund selling. 	
    * This week, investors will watch key economic data from
Germany, bond auctions in Italy and a meeting of euro zone
finance ministers, during which the size of a bailout firewall
is to be discussed.  	
    * For the top stories on metals and other news, click
, or 	
    	
    MARKET NEWS	
    * U.S. stocks rose in light volume on Friday, buoyed by
rising energy and basic materials shares, as the S&P 500 kept
showing resilience even as it posted its second negative week so
far this year. 	
    * The euro held near a three-week high against the greenback
on Monday, while commodity currencies such as the Australian
dollar steadied after a hammering last week, though persistent
worries on the global economy were seen keeping a lid on their
gains.    	
   	
    DATA/EVENTS	
 0800  Germany   Ifo business climate     Mar 2012                 
 0800  Germany   Ifo current conditions   Mar 2012                 
 0800  Germany   Ifo expectations         Mar 2012                 
       U.S.      Build permits R chg mm   Feb                      
 1400  U.S.      Pending homes index      Feb                     
  	
    PRICES	
     Precious metals prices 0038 GMT
  Metal             Last    Change  Pct chg  YTD pct chg    Volume
  Spot Gold        1666.89    4.75   +0.29      6.59
  Spot Silver        32.29    0.09   +0.28     16.61
  Spot Platinum    1632.99   13.01   +0.80     17.23
  Spot Palladium    659.00    5.50   +0.84      1.00
  COMEX GOLD APR2  1666.70    4.30   +0.26      6.38         3618
  COMEX SILVER MAY2  32.30    0.03   +0.09     15.71          967
  Euro/Dollar       1.3273
  Dollar/Yen         82.69

 





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