PRECIOUS-Gold pauses after rising on oil, equities
2012-04-03 08:30:10
SINGAPORE, April 3 (Reuters) - Gold prices were little
changed on Tuesday, taking a pause after tracking oil and
equities higher in the previous session as upbeat U.S. and China
manufacturing data eclipsed disappointing numbers from the euro
zone.
FUNDAMENTALS
* Spot gold gained $1.24 to $1,678.49 an ounce by
0030 GMT.
* U.S. gold was nearly flat at $1,680.30.
* Firmer U.S. manufacturing data as well as strong China
official purchasing managers index number pushed Wall Street to
a fresh four-year high on Monday, and helped lift spot gold
prices nearly half a percent.
* A more than 2-percent jump in oil prices also underpinned
the sentiment in bullion.
* Federal Reserve policymakers on Monday signaled little
appetite for further monetary steps to stimulate U.S. growth in
an economy that is gradually strengthening.
* The European Central Bank is expected to keep rates
unchanged at a policy meeting on Wednesday, as persistently high
inflation will prevent the ECB doing anything new to prop up the
euro zone's economy.
* Potentially supportive of platinum group metals, U.S. auto
sales are expected to continue at a strong pace in March,
capping the best quarter in four years for new vehicle purchases
as the overall U.S. economy improved and new car buyers found
easier financing.
* For the top stories on metals and other news, click
, or
MARKET NEWS
* U.S. stocks started the second quarter with a bang on
Monday, with the S&P 500 climbing to a fresh four-year high as
manufacturing data from the United States and China helped
support the outlook for economic growth.
* The yen held firm in Asia on Tuesday as investors cut back
on short positions amassed in recent weeks, while dreary euro
zone manufacturing and jobs data kept a leash on the euro.
DATA/EVENTS
0400 U.S. Total Vehicle Sales Mar
0430 Australia RBA cash rate Apr 2012
1000 EZ Producer prices Feb
1145 U.S. ICSC chain stores yy Weekly
1200 Brazil Industrial output yy Feb 2012
1400 U.S. Factory orders Feb
1800 U.S. FOMC meeting minutes
PRICES
Precious metals prices 0030 GMT
Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1678.49 1.24 +0.07 7.33
Spot Silver 32.99 0.03 +0.09 19.14
Spot Platinum 1650.49 6.16 +0.37 18.48
Spot Palladium 654.75 4.37 +0.67 0.34
COMEX GOLD JUN2 1680.30 0.60 +0.04 7.24 1556
COMEX SILVER MAY2 33.01 -0.09 -0.27 18.25 335
Euro/Dollar 1.3331
Dollar/Yen 81.79
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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