RTRS: Gold rises 1 pct, markets weigh global rescue plans
SYDNEY, Oct 13 (Reuters) - Gold prices rose 1 percent in
early trading on Monday as the dollar eased against the euro
following an agreement by European leaders on steps to rescue
the banking sector, and in a rebound from Friday's near 8
percent dive.
-- Spot gold rose $8.95 or 1.1 percent to bid at
$856.35 at 2314 GMT versus a notional close of $847.40 on
Friday, when prices fell nearly $65 after a shockingly volatile
session fuelled by uncertainty over the impact of the credit
crisis.
-- Nations from Europe to Australia rushed out more plans
on Sunday to shore up their banks with pledges to back lending,
buy stakes in financial institutions and take other emergency
steps, with markets initially responding
positively.[ID:nLC713950]
-- The euro rose against the U.S. dollar and the yen as
European leaders agreed on steps to rescue the banking sector.
The euro was 0.3 percent higher at $1.3597 . Against the
yen, the euro was up 0.5 percent at 137.48 .
-- A rise in U.S. stock futures on Sunday evening may be
taken as a signal that markets are beginning to find some
relief from a month of crisis, limiting gold's gains, which had
been fuelled by a heavy bout of safe-haven buying.
-- S&P 500 futures SPc1 rose 29.8 points. Dow Jones
industrial average futures DJc1 rose 252 points, and Nasdaq
100 NDc1 futures climbed 31.25 points.
-- A rebound in oil also acted as a deterrent to gold
sales, with U.S. crude futures rising over $3 to top $80 a
barrel.
Precious metals prices at 2254 GMT
Metal Last Change Pct chg YTD pct chg
Turnover
Turnover
Spot Gold 847.65 0.25 +0.03 1.80
Spot Silver 10.15 0.01 +0.10 -31.28
Spot Platinum 977.50 0.00 +0.00 -35.69
Spot Palladium 188.00 0.00 +0.00 -48.91
TOCOM Gold 2910.00 27.00 +0.94 -4.90 53336
TOCOM Platinum 3230.00 -27.00 -0.83 -39.50 185.43
TOCOM Silver 367.20 -7.30 -1.95 -32.13 1249
TOCOM Palladium 641.00 -19.00 -2.88 -52.55 585
Euro/Dollar 1.3606
Dollar/Yen 100.63
TOCOM prices in yen per gram, except TOCOM silver which is
priced in yen per 10 grams. Spot prices in $ per ounce.
(Reporting by James Regan, editing by Jonathan Leff)
