Gold was little changed on Thursday after rising slightly in the previous session on strong demand from India, the top bullion buyer.
* Demand from India offset a slight drop in U.S. consumer inflation, which could dull the metal's allure as an inflation hedge, but traders say inflation remains a long-term concern due to the massive economy stimulus plans announced by central banks.
FUNDAMENTALS
* Gold was at $890.45 per ounce at 0005 GMT on Thursday, down 0.02 percent from New York's notional close of $890.60.
* The world's largest gold-backed exchange-traded fund, the SPDR Gold Trust GLD, said holdings as of April 15 remained unchanged at a record 1,127.68 tonnes, a level first reached on April 9. [GOL/SPDR]
MARKET NEWS
* Japan's benchmark Nikkei average .N225 opened up 1.21 percent at 8,848.43 on Thursday. [.T]
* U.S. stocks rose on Wednesday amid numerous signs the recession could be abating. [.T]
* The dollar gained on Wednesday as persistent concerns about the global economy added to the greenback's safe-haven allure. [USD/]
* U.S. crude CLc1 bounced back on Thursday after easing in the previous session pressured by government data which showed U.S. crude stocks last week were at the highest level since September 1990. [O/R]
DATA EVENTS
* The following data/event is expected on Thursday: ECON
- Euro zone Feb industrial production (0900 GMT)
- Euro zone March consumer prices (0900 GMT)
- Weekly U.S. jobless claims (1230 GMT)
- U.S. March housing starts (1230 GMT)
RELATED NEWS > Gold rises in quiet trade as inflation eyed [GOL/] > Copper at 6-month peaks; rest mostly down [COM/WRAP] > India gold demand edged up ahead of festival [ID:nBOM188197] > U.S. economic data weak but some signs of hope [ID:nN15491736] > Chrsyler-Fiat talks intensify [ID:nN15377480]
PRICES
Precious metals prices at 0000 GMT
Metal Last Change Pct chg Day ago pct MA 30 RSI Spot gold $890.85 $0.25 +0.03% -0.69% $860.10 44 Spot silver $12.75 $0.00 +0.00% +6.43% $11.29 53 Spot plat $1215.00 -$1.50 -0.12% +0.91% $1137.65 68 COMEX gold $893.00 $1.80 +0.20% -0.22% $914.86 43 Currencies Euro/dlr $1.322 $0.000 +0.00% -0.25% Dlr/yen 99.26 -0.13 -0.13% +0.49% TOCOM prices in yen per gram, except for TOCOM silver which is priced in yen per 10 grams. Spot prices in $ per ounce. (Reporting by Miho Yoshikawa)
