* SPDR Gold holdings fall 0.2 pct on Thurs
* iShares Silver holdings down 1.6 percent
By Miho Yoshikawa
TOKYO, Jan 15 (Reuters) - Gold prices were a touch softer on
Friday as the dollar reversed earlier losses, while palladium
marked a fresh 18-month high, extending the previous day's gains
on strong demand due to the launch of a new investment tool.
Gold futures got a lift on Thursday in defensive buying ahead
of possible measures by the Commodity Futures Trading Commission,
the top U.S. futures market regulator, to rein in speculation in
metals trading, dealers said.
CFTC Chairman Gary Gensler said it will discuss possible
position limits on gold and silver contracts at a March meeting.
On Thursday the CFTC unveiled proposals to limit trading in
energy contracts. []
Kazuhiko Saito, a chief analyst at Tokyo-based commodities
broker Fujitomi Co Ltd, said the gold market was trying to gauge
direction after recent economic data suggested sluggish growth in
the U.S. economy, in contrast to some positive numbers from other
countries.
Thursday's weaker-than-expected U.S. retail data for December
and higher jobless claims cemented the view that U.S. interest
rates are likely to remain low.
"On the other hand you have the solid numbers from Australian
jobs data, and this is pulling gold both ways," Saito said.
The upbeat Australian jobs data has fuelled talk the Reserve
Bank of Australia (RBA) may hike rates at its next meeting in
February.
Spot gold <XAU=> was at $1,137.70 per ounce as of 0628 GMT,
compared to New York's notional close of $1,142.15.
U.S. gold futures for February delivery <GCG0> were at
$1,137.90 per ounce, compared to Thursday's close of $1,143.00 on
the COMEX division of the New York Mercantile Exchange.
In the currency market, the U.S. dollar index <.DXY> <=USD>
was higher at 77.050, up 0.4 percent on the day, as investors
were cautious of building riskier positions while the global
economic outlook remains uncertain. []
A weaker dollar increases the allure of the precious metal
for holders of other currencies.
Platinum and palladium have both been boosted by strong
investment demand from the launch of a new exchange-traded fund
(ETF) backed by the metals in New York.
A U.S. subsidiary of London's ETF Securities launched the
products last Friday, and takeup has been healthy.
Spot palladium <XPT=> hit a fresh 18-month high of $450 per
ounce before trading at $448, versus $441.50 in New York.
Spot platinum <XPT=> stood at $1,604.50 after rising as high
as $1,618.50, compared with $1,607.00 in New York and a 17-month
high of $1,624 marked earlier this week.
Fujitomi's Saito said: "Platinum is also drawing attention as
it is still the most viable metal for catalysts."
Apart from jewellery, platinum is also used as an auto
catalyst to clean car exhaust fumes.
The world's largest gold-backed exchange-traded fund, SPDR
Gold Trust <GLD>, said its holdings stood at 1,113.750 tonnes as
of Jan. 14, down 0.2 percent from the previous business day.
[]
The world's largest silver-backed exchange-traded fund, the
iShares Silver Trust <SLV>, said its silver holdings stood at
9,339.19 tonnes as of Jan. 14, down 1.6 percent from the previous
business day. []
PRICES
Precious metals prices at 0640 GMT
Metal Last Change Pct chg YTD pct chg Turnover
Spot Gold 1137.80 -4.35 -0.38 3.84
Spot Silver 18.55 -0.09 -0.48 10.22
Spot Platinum 1601.50 -5.50 -0.34 9.17
Spot Palladium 447.75 6.25 +1.42 10.42
TOCOM Gold 3342.00 -32.00 -0.95 2.55 63263
TOCOM Platinum 4653.00 10.00 +0.22 6.21 20711
TOCOM Silver 54.80 -0.80 -1.44 6.00 569
TOCOM Palladium 1304.00 56.00 +4.49 11.93 689
Euro/Dollar 1.4413
Dollar/Yen 91.02
TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Additional reporting by Risa Maeda; Editing by Joseph Radford)
