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.
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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 | |||||
|---|---|---|---|---|---|
| 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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