SINGAPORE, Dec 8 (Reuters) - Gold held steady on Wednesday
after falling sharply from record highs in the previous
session, while silver regained strength as holdings in the
world's largest silver-backed exchange-traded fund hit another
record.
FUNDAMENTALS
* Spot gold hardly moved at $1,400.79 an ounce by
0055 GMT. It had hit record highs for a second successive day
above $1,430 an ounce on Tuesday before falling more than 1
percent on technical selling and rising short-term U.S.
interest rates.
* U.S. gold futures for February fell $7.6 an ounce
to at $1,401.4 an ounce.
* Silver hardly changed after rising to a 30-year
high at $30.68 an ounce on Tuesday before falling sharply to
hit a low around $28 an ounce.
* The world's largest silver-backed exchange-traded fund,
iShares Silver Trust , said its holdings hit another
record at 10,941.34 tonnes by Dec. 7 from 10,816.69 tonnes on
Dec 6. or details of the ETF's silver holdings, click on:
http://link.reuters.com/wux96h
* The world's largest gold-backed exchange-traded fund,
SPDR Gold Trust , said its holdings eased to 1,297.726
tonnes by Dec 7 from 1,298.030 tonnes on Dec 3.
MARKET NEWS
* The U.S. dollar rose in early Asia on Wednesday and
looked set to climb further in the short term, having powered
across the board overnight on the back of a spike in U.S. bond
yields.
* Japan's Nikkei average climbed 0.6 percent on Wednesday,
clawing back towards a six-month high hit last Friday, after
the dollar rose around 1 percent against the yen the previous
day.
(GMT) DATA/EVENTS
1100 Germany Industrial output mm Oct
1200 U.S. Mortgage index Weekly
2000 N.Zealand Central Bank Interest Rate
2350 Japan GDP revised qq Q3
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Precious metals prices at 0055 GMT
Metal Last Change Pct chg YTD pct chg Turnover
Spot Gold 1400.79 -0.07 -0.00 27.84
Spot Silver 28.92 0.26 +0.91 71.84
Spot Platinum 1685.50 -3.00 -0.18 14.89
Spot Palladium 732.47 2.50 +0.34 80.63
TOCOM Gold 3773.00 -11.00 -0.29 15.77 40731
TOCOM Platinum 4589.00 -22.00 -0.48 4.75 5980
TOCOM Silver 78.00 -2.10 -2.62 50.87 1943
TOCOM Palladium 1980.00 -47.00 -2.32 69.96 746
Euro/Dollar 1.3261
Dollar/Yen 83.57
TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Reporting by Lewa Pardomuan; Editing by Ed Lane)
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