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
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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
TIME | |||||
---|---|---|---|---|---|
Sydney | Tokyo | Ha Noi | HongKong | LonDon | NewYork |
Prices By NTGOLD | ||
---|---|---|
We Sell | We Buy | |
37.5g ABC Luong Bar | ||
5,234.20 | 4,834.20 | |
1oz ABC Bullion Cast Bar | ||
4,351.10 | 3,971.10 | |
100g ABC Bullion Bar | ||
13,944.10 | 12,844.10 | |
1kg ABC Bullion Silver | ||
1,684.50 | 1,334.50 |
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