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RTRS: PRECIOUS-Gold steady on weak US data, Greek crisis
 
By Rujun Shen
SINGAPORE, June 2 (Reuters) - Spot gold held steady on
Thursday, supported by worries about economic recovery triggered
by sluggish U.S. employment and manufacturing data, and as
optimism over a solution to the Greek debt crisis faded after
Moody's cut the country's credit rating.

FUNDAMENTALS
* Spot gold edged up 0.1 percent to $1,541.89 an
ounce by 0048 GMT, extending gains from the previous session.
* U.S. gold GCcv1 was flat at $1,543.20.
* Fears mounted that the U.S. economy may be running out of
steam as data showed that companies hired far fewer workers than
expected in May and output in the manufacturing sector hit its
lowest level since 2009. [ID:nN01147563]
* The cloudy economic outlook drove investors to seek a safe
haven in gold, pushing the holdings in the SPDR Gold Trust
, the world's largest gold-backed exchange-traded fund, up
2.121 tonnes to 1,212.866 tonnes.
* Moody's cut Greece's credit rating by three notches on
debt restructuring worries, dampening optimism earlier in the
week that the debt-laden country would receive a second bailout
package and avoid restructuring. [ID:nLDE75038N]
* Spot silver gained 0.7 percent to $37.06, after
slipping more than 4 percent in the previous session. U.S.
silver SIcv1 fell 1.6 percent to $37.08.
* For the top stories on metals and other news, click
, or

MARKET NEWS
* Wall Street ended a four-day rally with its weakest
session since August on Wednesday and could suffer more losses
in coming days as investors faced more signs the economic
recovery is fading.
* The euro strengthened against the greenback on Thursday,
paring losses after Greece's credit rating was cut on Wednesday.


DATA/EVENTS
1230 U.S. Unemployment claims Weekly

1400 U.S. Factory orders April


PRICES
Precious metals prices 0048 GMT
Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1541.89 1.69 +0.11 8.63
Spot Silver 37.06 0.27 +0.73 20.09
Spot Platinum 1820.24 5.99 +0.33 2.98
Spot Palladium 769.97 3.99 +0.52 -3.69
TOCOM Gold 4029.00 10.00 +0.25 8.05 29310
TOCOM Platinum 4800.00 -18.00 -0.37 2.21 5276
TOCOM Silver 96.70 -3.30 -3.30 19.38 1027
TOCOM Palladium 2020.00 -10.00 -0.49 -3.67 159
COMEX GOLD AUG1 1543.20 0.00 +0.00 8.57 3207
COMEX SILVER JUL1 37.08 -0.62 -1.64 19.83 1589
Euro/Dollar 1.4347
Dollar/Yen 81.09
TOCOM prices in yen per gram. Spot prices in $ per ounce.
COMEX gold and silver contracts show the most active months
Source