SINGAPORE, Jan 25 (Reuters) - Spot gold touched a 10-week
low on Tuesday, as safe-haven demand continued to diminish on
strong economic data out of Europe, and technical signals
pointing to a bearish trend.
FUNDAMENTALS
* Spot gold fell to $1,331.35, its lowest since Nov
17, and was trading at $1,331.70 an ounce by 0044 GMT.
* U.S. gold futures fell about one percent to
$1,331.9.
* Holdings in the SPDR Gold Trust , the world's largest
gold-backed exchange-traded fund, fell 10.926 tonnes, or nearly
one percent, to 1,260.843 tonnes by Jan 24, after rising more
than 20 tonnes in the previous session.
* A suicide bomber killed at least 35 people at Russia's
busiest airport on Monday, state TV said, in an attack on the
capital that bore the hallmarks of militants fighting for an
Islamist state in the North Caucasus region.
* Continuing the flow of upbeat economic data, euro zone
industrial new orders rose more than expected in November,
confirming the strength of euro zone recovery in industry but
pointing to weakness in demand for consumer goods.
* Spot silver fell to a two-month low of $26.79. The
Relative Strength Index fell to 33.692, its lowest since
February 2010, signalling reduced buying interest.
* The euro zone inflation rate, excluding volatile energy
and food prices, does not gauge future price pressures well,
European Central Bank President Jean-Claude Trichet was quoted
as saying on Sunday.
MARKET NEWS
* Wall Street resumed its rally on Monday, led by natural
resources and tech shares as investors saw stocks regaining
momentum lost late last week.
* The euro held near a two-month peak early in Asia on
Tuesday, with $1.37 firmly in its sight as the market showed
only the barest signs of fatigue after a 6-percent rally in the
past two weeks.
DATA/EVENTS (GMT)
0600 India Repo Rate Final Jan
1245 U.S. ICSC chain stores Weekly
1400 U.S. CaseShiller 20 sa Nov
1500 U.S. Consumer confidence Jan
:: U.S. Johnson & Johnson Q4
:: U.S. United States Steel Q4
RELATED NEWS
> Suicide bomber kills 35 at Russia's biggest airpor
> Euro zone PMIs indicate rising inflation pressure
> Largecap tech shares, materials boost Wall Street
> Obama speech may spur fight over budget cuts
> ECB's Trichet rejects using core inflation
> IMF sees global growth in 2011 just under 4.75 pct
> Euro zone orders confirm recovery in industry
> EU must decide new euro measures urgently-Rehn
> Sarkozy targets commodities in G20 agenda
> Oil falls as ample U.S. inventories pressure
> Irish election likely to be held in late Feb
PRICES
Precious metals prices 0044 GMT
Metal Last Change Pct chg YTD pct chg Turnover
Spot Gold 1331.70 -2.55 -0.19 -6.18
Spot Silver 26.83 -0.08 -0.30 -13.06
Spot Platinum 1802.00 -9.99 -0.55 1.95
Spot Palladium 805.22 -4.28 -0.53 0.72
TOCOM Gold 3551.00 -62.00 -1.72 -4.77 28779
TOCOM Platinum 4846.00 -63.00 -1.28 3.19 6835
TOCOM Silver 71.30 -3.10 -4.17 -11.98 1432
TOCOM Palladium 2146.00 -57.00 -2.59 2.34 321
Euro/Dollar 1.3637
Dollar/Yen 82.60
TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Reporting By Rujun Shen)
Reuters
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