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 | |||||
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Sydney | Tokyo | Ha Noi | HongKong | LonDon | NewYork |
Prices By NTGOLD | ||
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We Sell | We Buy | |
37.5g ABC Luong Bar | ||
5,227.10 | 4,827.10 | |
1oz ABC Bullion Cast Bar | ||
4,345.20 | 3,965.20 | |
100g ABC Bullion Bar | ||
13,925.10 | 12,825.10 | |
1kg ABC Bullion Silver | ||
1,683.30 | 1,333.30 |
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