MSN: PRECIOUS-Gold bounces in thin trade, dollar weighs
SINGAPORE, Aug 12 (Reuters) - Gold regained strength on Thursday after falling the previous day as investors sold bullion to cover losses in equities, but a firmer dollar was likely to cap gains.
FUNDAMENTALS
* Spot gold added $2.20 to $1,199.20 an ounce by 0046 GMT, still hovering below the closely-watched 50-day moving average.
* U.S. gold futures for December delivery rose $3.0 to $1,202.2 an ounce.
* The world's largest gold-backed exchange-traded fund, SPDR Gold Trust , said its holdings rose to 1,285.787 tonnes by Aug. 11 from 1,282.746 tonnes on Aug. 5. The holdings hit a record at 1,320.436 tonnes on June 29. [GOL/SPDR]
MARKET NEWS
* The dollar continued to firm on Wednesday after scoring its biggest daily gain for nearly two years the previous day as concerns about the U.S. and global economies triggered a wave of unwinding in short dollar positions. [USD/]
* Japan's Nikkei average fell 1.5 percent on Thursday as the dollar hit a 15-year low against the yen and U.S. stocks erased the year's gains in the broadest selloff in a month-and-a-half on Wednesday. [.T] [.N]
* U.S. crude futures were weaker on Thursday after falling steeply the day before amid demand worries as data showed a rise in U.S. gasoline stocks and easing weather fears in the Gulf of Mexico. [O/R]
DATA EVENTS
- 0430 GMT Japan Industrial output rev Jun
- 0500 GMT Japan Consumer confid. index Jul
- 0530 GMT India Industrial output Jun
- 0900 GMT EZ Industrial production yy Jun - 1230 GMT U.S. Import prices mm Jul - 1230 GMT U.S. Initial jobless claims Weekly - 2330 GMT Japan Reuters Tankan DI Aug
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[nN11206050] > US posts $165 bln July deficit, spending ebbs [nN11230417] > Europe doesn't want Japan FX intervention-source [nTST002429] > IEA lifts oil demand f'cast but warns on economy [nLDE67A0LV] > S.Korea rates seen on hold, rising in Sept [nTOE67A03U] > BoE forecasts leave scope for further easing [nLDE67A15M] > Canada trade gap widens, to drag on Q2 growth [nN15446129] > UK jobless down less than f'cast, employment up [nLDE67A0UQ] Precious metals prices at 0046 GMT Metal Last Change Pct chg YTD pct chg Turnover Spot Gold 1199.20 2.20 +0.18 9.45 Spot Silver 17.89 0.05 +0.28 6.30 Spot Platinum 1503.75 -42.25 -2.73 2.51 Spot Palladium 458.25 -18.75 -3.93 13.01 TOCOM Gold 3291.00 -10.00 -0.30 0.98 14902 TOCOM Platinum 4156.00 -103.00 -2.42 -5.14 10780 TOCOM Silver 49.80 -0.80 -1.58 -3.68 217 TOCOM Palladium 1260.00 -48.00 -3.67 8.15 210 Euro/Dollar 1.2875 Dollar/Yen 85.09 TOCOM prices in yen per gram. Spot prices in $ per ounce. (Reporting by Lewa Pardomuan; Editing by Michael Urquhart)