| 25 July 2012 - PRECIOUS-Gold steady as strong dollar offsets stimulus hopes |
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PRECIOUS-Gold steady as strong dollar offsets stimulus hopes From http://af.reuters.com/article/metalsNews/idAFL4E8IP0FP20120725 SINGAPORE, July 25 (Reuters) - Gold held steady around $1,580 an ounce on Wednesday, as sluggish economic data kept alive hopes for more monetary stimulus while a strong dollar pressured prices. FUNDAMENTALS * Spot gold was little changed at $1,580.14 an ounce by 0039 GMT. * The U.S. gold futures contract for August delivery inched up 0.2 percent to $1,579.60. * The struggles of the U.S. and euro zone economies intensified in July, surveys showed on Tuesday, though improved Chinese factory output suggested stimulus measures were starting to boost the world's second-largest economy. * Investors are trying to find hints about what tools the U.S. Federal Reserve might deploy to aid a faltering recovery, as the grim economic prospects in Europe infected businesses across the Atlantic. * Spain paid the second highest yield on short-term debt since the birth of the euro at an auction on Tuesday, and EU officials said Greece had little hope of meeting the terms of its bailout, casting fresh doubt on its future in the euro zone. * Spot platinum edged up 0.2 percent to $1,579.60, after slumping to $1,374.60 -- its lowest level this year -- in the previous session. * For the top stories on metals and other news, click, or MARKET NEWS * Wall Street stocks fell on Tuesday, while investors continued to give the euro and risk currencies a wide berth as the euro zone debt crisis festered. DATA/EVENTS 0800 Germany Ifo business climate Jul 0800 Germany Ifo current conditions Jul 0800 Germany Ifo expectations Jul 1130 India M3 Money Supply 1400 U.S. New home sales chg mm Jun 1400 U.S. New home sales-units mm Jun 2100 N.Zealand Cen Bank Interest Rate 2300 S.Korea GDP growth yy Advance Apr PRICES Precious metals prices 0039 GMT Metal Last Change Pct chg YTD pct chg Volume Spot Gold 1580.14 0.30 +0.02 1.04 Spot Silver 26.90 0.10 +0.37 -2.85 Spot Platinum 1381.24 2.99 +0.22 -0.84 Spot Palladium 560.45 4.17 +0.75 -14.11 COMEX GOLD AUG2 1579.60 3.40 +0.22 0.82 3515 COMEX SILVER SEP2 26.86 0.05 +0.18 -3.78 587 Euro/Dollar 1.2060 Dollar/Yen 78.08 COMEX gold and silver contracts show the most active months Source:http://af.reuters.com/article/metalsNews/idAFL4E8IP0FP20120725 |
