TOKYO, Nov 24 (Reuters) - Gold prices eased on Tuesday from
record highs hit the day before but sentiment was underpinned by
dollar weakness, which boosts bullion's appeal as an alternative
asset and makes it cheaper for holders of other currencies.
FUNDAMENTALS
* Spot gold <XAU=> inched down 0.2 percent to $1,163.00 per
ounce as of 2345 GMT Monday, after hitting an all-time high of
$1,173.50 on Monday. In the year to date it has risen nearly 33
percent.
* U.S. gold futures for December delivery <GCZ9> eased 0.1
percent to $1,163.5 per ounce, compared to $1,164.70 on the COMEX
division of the New York Mercantile Exchange. Futures hit a
record high $1,174.00 on Monday.
* Noncommercial net long U.S. gold futures positions eased 1
percent to 235,697 lots in the week to Nov. 17 from 238,060, a
weekly report by the U.S. Commodity Futures Trading Commission
showed. []
* Other precious metals were also off Monday's multi-month
highs, dragged lower by gold's retreat from record highs.
* Platinum <XPT=> was at $1,455 per ounce after hitting
$1,473.50 on Monday, its highest since September 2008, while
silver <XAG=> stood at $18.57, also off $18.91 hit on Monday, its
highest since July 2008.
* The world's largest gold-backed exchange-traded fund, SPDR
Gold Trust <GLD>, said its holdings rose 3.964 tonnes or 0.4
percent from the previous business day to 1,121.457 tonnes as of
Nov. 23, inching closer to a record high of 1,134.03 tonnes hit
on June 1. []
* Japanese financial markets were closed for a public holiday
on Monday.
MARKET NEWS
* U.S. stocks snapped a three-day losing streak on Monday as
stronger-than-expected home sales data fuelled optimism while a
weaker dollar boosted commodity-linked stocks. []
* The dollar remained pressured on Tuesday against a basket
of major currencies after remarks by senior Federal Reserve
official James Bullard reinforced views that U.S. interest rates
will stay low for a while. Investors' risk appetite returned
after a rally in U.S. stocks, strong U.S. housing data and higher
commodity prices, adding to dollar weakness. []
DATA EVENTS
* The following data is expected on Tuesday: <ECON>
- German IFO index for November. (0900 GMT)
- BoE Governor Mervyn King and others attend treasury
committee hearing. (0945 GMT)
- Euro zone industrial orders for September. (1000 GMT)
- ICSC/Goldman Sachs weekly U.S. chain store sales. (1245
GMT)
- U.S. GDP for preliminary (second) Q3 estimate. (1330 GMT)
- Redbook weekly U.S. retail sales. (1355 GMT)
- U.S. S&P/Case-Shiller home price index for September. (1400
GMT)
- U.S. consumer confidence for November.(1500 GMT)
- FOMC releases minutes of Nov. 3-4 meeting. (1900 GMT)
RELATED NEWS
>Gold hits record above $1,170/oz as dollar slides []
>Gold option bets point to $1,200 early next year[]
>Gold at new peak; oil, copper up as dollar wilts []
>Oil rises slightly on U.S. home sales, weaker dollar []
PRICES
Precious metals prices at 2349 GMT
Metal Last Change Pct chg Day ago pct MA 30 RSI
Spot gold $1162.80 -$3.05 -0.26% +29.63% $860.10 85
Spot silver $18.59 $0.00 +0.00% +55.18% $11.29 73
Spot plat $1455.00 $0.50 +0.03% +0.97% $1374.50 72
COMEX gold $1165.00 -$1.20 -0.10% +1.11% $1093.51 86
TOCOM gold 3,269 -11 -0.34% -0.58% 3,161 70
TOCOM plat 4,111 -9 -0.22% -0.72% 3,973 66
Currencies
Euro/dlr $1.497 $0.000 +0.01% +0.69%
Dlr/yen 88.90 -0.11 -0.12% +0.10%
(Reporting by Chikako Mogi; Editing by Michael Watson)
((chikako.mogi@thomsonreuters.com; +81-3-6441-1871; Reuters
Messaging: chikako.mogi.reuters.com@reuters.net))
((If you have a query or comment on this story, send an email to
news.feedback.asia@thomsonreuters.com))
((Multimedia versions of Reuters Top News are now available for:
* 3000 Xtra : visit
http://topnews.session.rservices.com
* BridgeStation : view story .134
* Reuters Plus : from your WebDSS screen
For more information on Top News, visit
http://topnews.reuters.com))
Reuters Terminal users can see related news and prices by
double clicking on the codes in brackets:
- All precious metals headlines []
- Precious metals market reports []
- Daily fixing headlines []
- Technical analysis []
- Indian gold reports []
- European gold prices <GOLD/EU1><GOLD/EU2><0#PREC>
- London interbank gold forward rates <GOFO> <0#GOFO=>
- London silver forwards <SIFO><SIFO=>
- Gold lease rates <LGLR><0#LGLR=>
- London Bullion Market Association <LBMA01>
- New York Comex gold <0#GC:> and silver <0#SI:>
- New York platinum <0#PL:> and palladium <0#PA:>
- Asian gold prices <GOLD/ASIA1><0#PREC>
- Australian precious metals prices <GOLD/ASIA2><0#AUPREC=>
- Shanghai Gold Exchange prices <SGE/MENU>
- Hong Kong gold exchange prices <HKGG>
- Hong Kong bullion prices <SHKG>
- Indian bullion prices <INBULL><0#PREC-IN>
- Japanese producer prices <JP/PROD1>
For Related News and other topics, double click on one of these
codes:
SPEED GUIDES
<COMMOD> <ENERGY>
<PRECIOUS/1> <PRECIOUS/2>
<REUTERS>
