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PRECIOUS-Gold falls on profit-taking after more than 1 pct gain
2012-03-27 09:02:02

 

SINGAPORE, March 27 (Reuters) - Gold edged down on Tuesday,
with speculators booking profits after prices jumped more than 1
percent in the previous session when the Federal Reserve
signaled supportive monetary policy could continue in the United
States.  	
 	
    FUNDAMENTALS	
    * Spot gold had fallen $2.60 an ounce to $1,689.14 by
0023 GMT. 	
    	
    * Bullion rose to $1,693.39 on Monday, its strongest since
March 13, after Fed Chairman Ben Bernanke Bernanke said the U.S.
economy needed to grow more quickly to further reduce
unemployment. That fuelled bullion buying as a hedge against
long-term inflation and economic uncertainty. 	
    	
    * U.S. gold added $3.60 an ounce to $1,689.20 an
ounce.	
    	
    * For the top stories on metals and other news, click
, or 	
    	
    MARKET NEWS	
    * Japan's Nikkei average climbed more than 1 percent on
Tuesday, following overnight gains on Wall Street after
Bernanke's comments. 	
    * The euro advanced against the dollar and yen for a second
straight day on Monday. 	
    	
    DATA/EVENTS (GMT)	
    0600 - GERMAN CONSUMER SENTIMENT FOR APRIL    	
    1145 - ICSC/GOLDMAN SACHS WEEKLY U.S. CHAIN STORE SALES  	
    1255 - REDBOOK WEEKLY U.S. RETAIL SALES  	
    1300 - U.S. S&P/CASE-SHILLER HOME PRICE INDEX FOR JANUARY  	
    1400 - U.S. CONSUMER CONFIDENCE FOR MARCH  	
        	
    PRICES	
    	
  Precious metals prices 0023 GMT
  Metal             Last    Change  Pct chg  YTD pct chg    Volume
  Spot Gold        1689.14   -2.60   -0.15      8.02
  Spot Silver        32.75   -0.08   -0.24     18.27
  Spot Platinum    1649.24    6.56   +0.40     18.39
  Spot Palladium    664.45    1.35   +0.20      1.83
  COMEX GOLD APR2  1689.20    3.60   +0.21      7.81         2116
  COMEX SILVER MAY2  32.77    0.02   +0.05     17.37          325
  Euro/Dollar       1.3354
  Dollar/Yen         83.00
 
  COMEX gold and silver contracts show the most active months

 





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