PRECIOUS-Gold hovers around $1,680, eyes on dollar
2012-03-28 08:32:07
SINGAPORE, March 28 (Reuters) - Spot gold prices were little
changed on Wednesday, after buckling under a stronger dollar in
the previous session as U.S. data tempered concerns of more
stimulus from the Federal Reserve.
FUNDAMENTALS
* Spot gold was little changed at $1,680.24 an ounce
by 0051 GMT, after falling more than half a percent in the
previous session.
* U.S. gold edged down 0.3 percent to $1,680.50.
* Americans were more worried about inflation in March than
at any time in the last 10 months and consumer confidence waned
in the wake of higher gasoline prices, but their view of their
present situation rose to the highest level since September
2008.
* Another set of data showed that U.S. single-family home
prices were unchanged in January, the first time since July
prices have not declined in a sign the battered housing market
is slowly stabilising.
* After defending very low interest rates and triggering a
rally in bullion prices on Monday, U.S. Federal Reserve Chairman
Ben Bernanke said on Tuesday that it is too soon to declare
victory in the U.S. economic recovery and warned against
complacency in policymaking as the outlook brightens.
* India has agreed to examine jewellers' demands for removal
of an excise duty on unbranded jewellery, but won't reduce
import duty on gold and platinum, Finance Minister told
lawmakers on Tuesday.
* SPDR Gold Trust, the world's largest gold-backed
exchange-traded fund, said its holdings edged down 0.16 percent
to 1,286.62 tonnes by Tuesday.
* For the top stories on metals and other news, click
, or
MARKET NEWS
* U.S. stocks retreated from near four-year peaks on
Tuesday, while a batch of large-cap shares hit new highs, with
the help of portfolio managers snapping up top performers near
the end of the quarter.
* The dollar held steady on Wednesday against a basket of
currencies, after rebounding from two days of straight losses in
the previous session.
DATA/EVENTS
0530 France Detailed GDP Q4
0800 EZ Money-M3 3m moving av Feb 2012
1230 U.S. Durable goods orders Feb
Germany Preliminary CPI March
PRICES
Precious metals prices 0051 GMT
Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1680.24 0.20 +0.01 7.45
Spot Silver 32.57 0.07 +0.22 17.62
Spot Platinum 1641.69 -6.19 -0.38 17.85
Spot Palladium 655.70 3.20 +0.49 0.49
COMEX GOLD APR2 1680.50 -4.40 -0.26 7.26 2969
COMEX SILVER MAY2 32.59 -0.03 -0.08 16.75 672
Euro/Dollar 1.3331
Dollar/Yen 82.96
COMEX gold and silver contracts show the most active months
| TIME | |||||
|---|---|---|---|---|---|
| Sydney | Tokyo | Ha Noi | HongKong | LonDon | NewYork |
| Prices By NTGOLD | ||
|---|---|---|
| We Sell | We Buy | |
| 37.5g ABC Luong Bar | ||
| 8,030.80 | 7,330.80 | |
| 1oz ABC Bullion Cast Bar | ||
| 6,721.20 | 6,061.20 | |
| 100g ABC Bullion Bar | ||
| 21,382.00 | 19,332.00 | |
| 1kg ABC Bullion Silver | ||
| 2,871.60 | 2,286.60 | |
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