PRECIOUS-Gold bounces on bargain hunting, U.S. dollar watched
2012-03-29 10:37:18
SINGAPORE, March 29 (Reuters) - Gold regained some strength on Thursday as bargain hunters resurfaced after prices slipped more than 1 percent in the previous session, but gains may be capped by a rebound in the U.S. dollar against other currencies. FUNDAMENTALS * Spot gold hardly changed at $1,662.71 an ounce by 0040 GMT, having hit a high of $1,664.79. Gold had fallen 1.3 percent on Wednesday after data showing a smaller-than-expected rise in new U.S. manufactured goods orders spurred selling in the yellow metal and other commodities. * U.S. gold rose $4.30 to $1,662.20 an ounce. * New orders for long-lasting U.S. factory goods increased only modestly in February, supporting the view that economic growth in the first quarter could be lackluster. * For the top stories on metals and other news, click , or MARKET NEWS * Early in the week, the dollar took a hammering after Bernanke gave a cautious outlook on the economy that kept alive expectations of further stimulus. The dollar index fell to a near one-month low of 78.770 on Tuesday, but has since recovered to 79.158. * Asian shares eased for a second day in a row on Thursday, as investors limited their risk exposures on concerns about growth prospects in the world's two largest economies, the United States and China. * U.S. crude futures steadied on Thursday, trading little changed after a 1.8 percent drop the day before due to a big rise in U.S. crude inventories and talk of a release of U.S. and some European strategic reserves. DATA/EVENTS (GMT) 0755 - GERMANY MARCH UNEMPLOYMENT DATA 0830 - UK CONSUMER CREDIT FOR FEBRUARY 0900 - EURO ZONE BUSINESS CLIMATE FOR MARCH 0900 - EURO ZONE ECONOMIC SENTIMENT FOR MARCH 1230 - U.S. FINAL Q4 GDP 1230 - U.S. WEEKLY JOBLESS CLAIMS PRICES Precious metals prices 0040 GMT Metal Last Change Pct chg YTD pct chg Volume Spot Gold 1662.71 -0.41 -0.02 6.32 Spot Silver 32.06 0.05 +0.16 15.78 Spot Platinum 1630.69 0.76 +0.05 17.06 Spot Palladium 645.20 2.87 +0.45 -1.12 COMEX GOLD APR2 1662.20 4.30 +0.26 6.09 1351 COMEX SILVER MAY2 32.06 0.23 +0.72 14.85 701 Euro/Dollar 1.3320 Dollar/Yen 82.74 COMEX gold and silver contracts show the most active months (Reporting by Lewa Pardomuan; Editing by Muralikumar Anantharaman)
TIME | |||||
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Sydney | Tokyo | Ha Noi | HongKong | LonDon | NewYork |
Prices By NTGOLD | ||
---|---|---|
We Sell | We Buy | |
37.5g ABC Luong Bar | ||
5,353.00 | 4,933.00 | |
1oz ABC Bullion Cast Bar | ||
4,448.00 | 4,048.00 | |
100g ABC Bullion Bar | ||
14,217.50 | 12,967.50 | |
1kg ABC Bullion Silver | ||
1,695.50 | 1,345.50 |
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