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PRECIOUS-Gold bounces after 2 pct drop, dollar eyed
2012-03-15 08:48:50

SINGAPORE, March 15 (Reuters) - Gold regained some
strength on Thursday after a drop in the previous session
attracted bargain hunters, but a strong dollar and worries that
monetary easing in the world's largest economy was over for now
made the metal vulnerable to more selling. 	
       	
    FUNDAMENTALS	
    * Spot gold added 56 cents to $1,642.66 an ounce by
0044 GMT after falling about 2 percent on Wednesday.	
     * U.S. April gold was steady at $1,643.20 an ounce.	
     * The dollar was holding hefty gains in Asia on Thursday
after yet another stellar offshore session, as optimism about
the U.S. economic recovery sparked a spike in Treasury yields.
 	
     * Developed economies will pick up steam this year thanks
to an array of ultra-loose monetary policies from major central
banks and amid new signs of progress in the euro zone's debt
crisis, Reuters polls found. 	
    * Premier Wen Jiabao said on Wednesday China must embrace
slower growth and bolder political reform to keep its economy
from faltering. He also dampened hopes for any near-term easing
measures in the country's property sector.
  	
    * For the top stories on metals and other news, click
, or 	
    	
    MARKET NEWS	
    * Asian shares eased on Thursday on renewed concerns about
Chinese growth, but a brighter global economic outlook
underpinned the dollar, reducing the appeal of safe-haven
government debts. 	
    * U.S. crude futures edged up on Thursday, paring the
previous session's 1.2-percent decline, but a strong dollar and
bulging crude inventories in the world's top oil consumer kept a
lid on gains. 	
         	
    DATA/EVENTS (GMT)	
    0630 India Repo Rate                          	
    1230  U.S. Jobless claims       Weekly          	
    	
    PRICES	
  Precious metals prices 0044 GMT
  Metal             Last    Change  Pct chg  YTD pct chg    Volume
  Spot Gold        1642.66    0.56   +0.03      5.04
  Spot Silver        32.12    0.02   +0.06     16.00
  Spot Platinum    1663.99   -6.69   -0.40     19.45
  Spot Palladium    694.97   -0.24   -0.03      6.51
  COMEX GOLD APR2  1643.20    0.30   +0.02      4.88         2542
  COMEX SILVER MAY2  32.14   -0.05   -0.14     15.12         1250
  Euro/Dollar       1.3019
  Dollar/Yen         83.98

 





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