RTRS: PRECIOUS-Gold falls back as U.S. dollar jumps
SINGAPORE, June 16 (Reuters) - Gold lost its footing on
Thursday after the U.S. dollar jumped against other currencies,
but euro zone debt jitters could limit losses as investors
fretted about the lack of resolution to solve the crisis in
Greece.
FUNDAMENTALS
* Spot gold fell $2.66 an ounce to $1,527.19 an ounce
by 0030 GMT after rising for a second straight session to around
$1,533 on Wednesday on declines in equity markets. Gold is well
below a lifetime high around $1,575 touched in early May.
* Silver lost 24 cents to $35.53 an ounce, below a
record at $49.51 an ounce in April.
* The dollar held at three-week highs against a basket of
major currencies in Asia on Thursday, having staged its biggest
rally in 10 months on a wave of short covering as concerns over
Greece's debt crisis hammered the euro.
MARKET NEWS
* Tokyo stocks on Thursday tracked Wall Street lower after
it tumbled on escalating Greek debt woes and U.S. data showed
the world's No.1 economy was facing a troubling mix of higher
prices and weak growth, pointing to further losses.
* August Brent crude futures swung back to rise by
$1.06 to $114.07 a barrel in early Asian trade on Thursday in
the wake of a slightly recovering euro and a
larger-than-expected draw in U.S. crude stocks.
DATA EVENTS (GMT)
0900 EZ Inflation, final yy May 2011
1230 U.S. Housing Starts May
1230 U.S. Building Permits May
1230 U.S. Unemployment claims Weekly
