Gold inched down on Thursday, but
remained within its ranges of the previous day, when weakness in
the equity market and an oil rally gave bullion a boost.
FUNDAMENTALS
* Gold was at $946.00 per ounce at 2352 GMT, down 0.2
percent from New York's notional close of $948.10.
* U.S. gold futures for June delivery GCM9 were at $946.40
per ounce, down 0.7 percent from the settlement on the COMEX
division of the New York Mercantile Exchange.
* The world's largest gold-backed exchange-traded fund, the
SPDR Gold Trust (GLD: Quote, Profile, Research), said its holdings stood at 1,118.76 tonnes
as of May 27, unchanged from the previous day. [GOL/SPDR]
MARKET NEWS
* The dollar rose against the euro on Wednesday as fears of a
U.S. credit downgrade faded and a European Central Bank official
said interest rates could fall further if economic conditions
worsened. [USD/]
* U.S. stocks dropped on Wednesday as rising yields on U.S.
government debt fueled concern that businesses and consumers
could face higher borrowing costs, which could hamper an economic
recovery. [.N]
DATA EVENTS
* The following data is expected on Thursday: ECON
- French May housing starts (0645 GMT)
- Italian May business confidence (0730 GMT)
- German May unemployment rate (0800 GMT)
- Euro zone May consumer sentiment (0900 GMT)
- U.S. April durable goods (1230 GMT)
- Weekly U.S. jobless claims (1230 GMT)
- U.S. April new home sales (1400 GMT)
RELATED NEWS
> Gold tad higher as equities fall, dollar gains [GOL/]
> Cocoa surges to 6-week high; oil jumps past $63 [COM/WRAP]
> GM bankruptcy, Opel decision seen near [ID:nN27540145]
> U.S. housing market up; worries over U.S. debt [ID:nSP406910]
> Chinese economic recovery not yet assured-PBOC [ID:nPEK290986]
PRICES
Precious metals prices at 2348 GMT
Metal Last Change Pct chg Day ago pct MA 30 RSI
Spot gold $946.45 -$1.65 -0.17% +5.51% $860.10 61
Spot silver $14.68 -$0.04 -0.27% +22.54% $11.29 68
Spot plat $1127.00 -$4.50 -0.40% -0.44% $1127.35 44
COMEX gold $946.70 -$1.80 -0.19% -0.69% $916.78
TOCOM gold 2,923 8 +0.27% +0.21% 2,869 63
TOCOM plat 3,477 -14 -0.40% -0.77% 3,544 43
Currencies
Euro/dlr $1.383 $0.000 -0.04% -1.15%
Dlr/yen 95.61 0.31 +0.33% +0.64%
TOCOM prices in yen per gram, except TOCOM silver which is
priced in yen per 10 grams. Spot prices in $ per ounce.
