RTRS: PRECIOUS-Gold inches lower after upbeat China data
SINGAPORE, Sept 13 (Reuters) - Spot gold edged lower on Monday, after having fallen to a one-week low in the previous session, as economic data from China helped dissipate fears of a worsening global economy and ease safe-haven demand.
FUNDAMENTALS
* Spot gold fell $1.95 to $1,243.05 an ounce by 0018 GMT, after hitting a one-week low of $1,236.55 on Friday.
* U.S. gold futures for December delivery inched down 0.2 percent to $1,244.1 an ounce.
* The world's largest gold-backed exchange-traded fund, SPDR Gold Trust , said its holdings remained unchanged at $1,293.531 tonnes.[GOL/SPDR]
* Industrial production in China ramped up and money growth exceeded expectations in August, reflecting robust economic growth despite government efforts to clamp down on bank lending and property speculation. [ID:nTOE68A00H]
MARKET NEWS
* The Dow and S&P 500 closed the week with their seventh gain in eight sessions in a turnaround period for stocks that has seen investors' worst fears about the economy start to dissipate.[.N]
* The euro climbed 0.9 percent against the dollar in early Asian trade on Monday on positive market sentiment following upbeat Chinese data and an agreement on new banking rules that brought no surprises. [USD/]
DATA/EVENTS
The following data is expected on Monday:
0900 EZ Industrial production yy Jul
1800 U.S. Federal budget Aug
PRICES
Precious metals prices at 0018 GMT Metal Last Change Pct chg YTD pct chg Turnover Spot Gold 1243.05 -1.95 -0.16 13.45 Spot Silver 19.80 -0.04 -0.20 17.65 Spot Platinum 1541.00 4.02 +0.26 5.04 Spot Palladium 515.00 0.37 +0.07 27.00 TOCOM Gold 3377.00 1.00 +0.03 3.62 10633 TOCOM Platinum 4199.00 -13.00 -0.31 -4.15 2292 TOCOM Silver 54.00 0.40 +0.75 4.45 84 TOCOM Palladium 1395.00 -17.00 -1.20 19.74 171 Euro/Dollar 1.2789 Dollar/Yen 84.23 TOCOM prices in yen per gram. Spot prices in $ per ounce. (Reporting by Rujun Shen; Editing by Manash Goswami)