PRECIOUS-Gold off 3-month low; dashed easing hopes, euro weigh
2012-04-05 07:55:59
SINGAPORE, April 5 (Reuters) - Gold edged up on Thursday,
after diminishing hopes of more monetary stimulus from the U.S.
central bank and a weakened euro pushed bullion to its lowest
level in nearly three months in the previous session.
FUNDAMENTALS
* Spot gold inched up 0.2 percent to $1,621.89 an
ounce by 0027 GMT, off a near three-month low of $1,611.80 hit
in the previous session.
* U.S. gold rebounded more than half a percent to
$1,623.30.
* Gold tumbled for two days straight after the U.S. Federal
Reserve released minutes from its last policy meeting which
showed policymakers were less likely to push for more monetary
easing as the economic outlook gradually improves.
* A job market report said on Wednesday that U.S. businesses
added more than 200,000 jobs in March, giving fresh evidence of
recovery.
* Adding to gold's woes, the euro fell to a three-month high
against the dollar as worries about the euro zone debt crisis
rekindled after a poorly received Spanish government bond sales.
* European Central Bank cautioned about the downside risks
to the economic outlook and dismissed a German-led push for the
bank to start planning a retreat from emergency crisis-fighting.
* The Shanghai Gold Exchange reopens on Thursday after a
three-day hiatus. When the market closed last Friday, the
popular spot gold deferred contract closed at
339.13 yuan a gram, or $1,674 an ounce.
* SPDR Gold Trust, the world's largest gold-backed
exchange-traded fund, said its holdings were unchanged at
1,286.621 tonnes by Wednesday. But holdings in the world's key
gold ETFs gained 44,761 ounces on the day to 70.4 million ounces
(2,190 tonnes).
* Spot silver edged up 0.2 percent to $31.36 an
ounce, after sliding 4 percent in the previous session -- its
largest daily decline in more than a month.
* For the top stories on metals and other news, click
, or
MARKET NEWS
* U.S. stocks fell for a second day on Wednesday as
investors contemplated a world without monetary stimulus and a
poorly received bond auction in Spain suggested the effects of
Europe's funding operations were waning.
* The euro floundered at three-week lows versus the yen and
dollar on Thursday, while commodity currencies also nursed heavy
losses after a poor Spanish bond auction reignited worries about
the euro zone debt crisis.
DATA/EVENTS
0330 China HSBC services PMI Mar
1000 Germany Industrial output mm Feb 2012
1100 Britain BOE Bank Rate Apr 2012
1230 U.S. Jobless claims Weekly
PRICES
Precious metals prices 0027 GMT
Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1621.89 2.64 +0.16 3.71
Spot Silver 31.36 0.04 +0.13 13.25
Spot Platinum 1590.75 -1.80 -0.11 14.20
Spot Palladium 628.50 -0.95 -0.15 -3.68
COMEX GOLD JUN2 1623.30 9.20 +0.57 3.61 2430
COMEX SILVER MAY2 31.37 0.32 +1.03 12.36 657
Euro/Dollar 1.3145
Dollar/Yen 82.29
COMEX gold and silver contracts show the most active months
(Reporting by Rujun Shen)
| TIME | |||||
|---|---|---|---|---|---|
| Sydney | Tokyo | Ha Noi | HongKong | LonDon | NewYork |
| Prices By NTGOLD | ||
|---|---|---|
| We Sell | We Buy | |
| 37.5g ABC Luong Bar | ||
| 8,219.10 | 7,339.10 | |
| 1oz ABC Bullion Cast Bar | ||
| 6,877.40 | 6,077.40 | |
| 100g ABC Bullion Bar | ||
| 21,954.10 | 19,469.10 | |
| 1kg ABC Bullion Silver | ||
| 2,991.80 | 2,211.80 | |
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