MARKET ROUNDUP Gold futures rose toward $1,150 an ounce on Wednesday, despite a weaker euro, as the market took the lead from better U.S. corporate results amid rising risk appetite. IN FOCUS - The world's largest gold-backed exchangetraded fund, the SPDR Gold Trust, said its holdings stood at 1,141.041 tonnes as of April 21, unchanged from the previous day and matching a record high first hit on April 9. - The world's largest silver-backed exchange traded fund, the iShares Silver Trust, said its holdings stood at 8,912.94 tonnes as of April 21, unchanged from the previous business day. - Australia's Newcrest Mining, which is seeking to take over Lihir Gold for $8.7 billion to create the world's fourth largest gold producer, said its March quarter output dropped 6 percent and may miss its full year guidance. - South Africa's Gold Fields said in a statement on Wednesday it would deepen the ventilation shaft, which will enable the mine to build up to its full production target of between 750,000-800,000 ounces of gold per year by the end of 2014. - Canada's Great Basin Gold Ltd said it agreed to sell up to 50,000 ore tons to Colaradobased Newmont Mining Ltd. The company said it plans to immediately dispatch 40,000 tons, currently stockpiled at its Hollister property. - New Gold Inc. today announces 2010 first quarter gold sales of 80,020 ounces at a total cash cost(1) of $472 per ounce, net of byproduct sales. FUNDAMENTAL OUTLOOK Precious metals are trading a tad lower on COMEX in early trades today tracking the broad strength in the US dollar. Gold is trading at $1146 per ounce and we do not expect to see a major downside from the current levels. The focus for the day would be on US Producer Price number. Any increase in this number would be supportive for Gold prices. Silver is trading subdued in line with industrial metals prices. However, we may see a bounce back in silver futures on any positive surprise from Euro zone industrial data.

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