RTRS: PRECIOUS-Gold holds steady, ETF holdings hits record
Gold was steady on Tuesday as investors continued to track moves in the dollar, the key factor driving gold, which remains within striking distance of $1,000 an ounce.
FUNDAMENTALS
* Gold was at $974.6 at 0015 GMT, up 0.1 percent from New York's notional close of $973.95.
* U.S. gold futures for August delivery were at $977.4 per ounce, down 0.3 percent from the previous day's settlement.
* The world's largest gold-backed exchange-traded fund, the SPDR Gold Trust , said its holdings hit a record 1,134.03 tonnes as of June 1, up 15.27 tonnes or 1.4 percent from the previous business day. [GOL/SPDR]
* The world's largest silver-backed exchange-traded fund, the iShares Silver Trust , said its bullion holdings rose 260.36 tonnes from the previous day to a record 8,608.54 tonnes as of June 1.
MARKET NEWS
* The dollar on Monday slid to its lowest this year against the euro and a basket of currencies as stronger-than-expected U.S. data and sharp gains in equities reduced safe-haven demand for the greenback. [USD/]
* U.S. stocks rose on Monday as reassuring economic data reinforced hopes that demand will stabilise, while General Motors long-expected bankruptcy filing ended uncertainty about the automaker's fate. [.N]
* Japan's benchmark Nikkei average <.N225> opened up 1 percent on Tuesday. [.T]
DATA EVENTS
* The following data is expected on Tuesday:
- Swiss Q1 GDP data (0545 GMT)
- French April producer prices (0645 GMT)
- Swiss May PMI (0730 GMT)
- UK April consumer credit (0830 GMT)
- UK April mortgage applications, lending (0830 GMT)
- Euro zone April unemployment (0900 GMT)
- Redbook Weekly U.S. retail sales (1255 GMT)
- U.S. April pending home sales (1400 GMT)
- U.S. auto sales for May (N/A)
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PRICES
Precious metals prices at 0012 Metal Last Change Pct chg Day ago pct MA 30 RSI Spot gold $974.55 $0.60 +0.06% +8.65% $860.10 74 Spot silver $15.49 -$0.10 -0.64% +29.30% $11.29 74 Spot plat $1207.50 -$1.00 -0.08% +1.73% $1134.95 77 COMEX gold $975.90 $0.40 +0.04% -0.38% $927.25 78 TOCOM gold 3,026 3 +0.10% +0.53% 2,895 TOCOM plat 3,766 35 +0.94% +3.58% 3,547 Currencies Euro/dlr $1.415 -$0.001 -0.07% +0.07% Dlr/yen 96.20 -0.36 -0.37% +1.02% TOCOM prices in yen per gram, except TOCOM silver which is priced in yen per 10 grams. Spot prices in $ per ounce.