TOKYO, July 15 (Reuters) - Gold hovered around $925 on
Wednesday, hanging on to the previous day's gains when increases
in U.S. producer prices and retail sales in June fanned inflation
worries and boosted bullion's appeal.
The precious metal had recently lost some of its attraction
to risk-averse investors seeking an inflation hedge, causing
bullion to lose close to $20 last week and hit a two-month low.
FUNDAMENTALS
* Gold <XAU=> was at $925.20 ounce at 0014 GMT, up 0.1
percent compared to New York's notional close of $924.60.
* U.S. gold futures for August delivery <GCQ9> were at
$925.10 per ounce, up 0.2 percent from Tuesday's settlement.
* The world's largest gold-backed exchange-traded fund, the
SPDR Gold Trust <GLD>, said holdings fell to 1,094.54 tonnes as
of July 14, down 15.27 tonnes, or 1.4 percent, from the previous
business day. []
* The world's largest silver-backed exchange-traded fund, the
iShares Silver Trust <SLV>, said its bullion holdings rose 42.07
tonnes, or 0.5 percent to a record 8,766.93 tonnes as of July 14.
[]
MARKET NEWS
* The yen fell on Tuesday as earnings of Goldman Sachs
surpassed expectations, stoking modest hopes for an economic
recovery and boosting investors' appetite for stocks and
higher-yielding assets. []
* U.S. stocks managed modest gains on Tuesday as
better-than-expected corporate profits overshadowed concerns
about weak consumer demand. []
DATA EVENTS
* The following data is expected on Wednesday: <ECON>
- Bank of Japan ends two-day policy board meeting (N/A)
- Swiss May retail sales (0715 GMT)
- Italy June CPI (0800 GMT)
- UK labour market data (0830 GMT)
- Euro zone June inflation (0900 GMT)
- Weekly U.S. mortgage market index (1100 GMT)
- New York Fed empire state survey for July (1230 GMT)
- U.S. CPI/core CPI for June (1230 GMT)
- U.S. real earnings for June (1230 GMT)
- U.S. industrial production/cap use for June (1315 GMT)
RELATED NEWS
> Gold rises after U.S. data stirs inflation worries []
> COMMODITIES-Mostly up on better confidence []
> SAfrica mine unions snub gold sector wage offer []
> Polymetal plans to double gold output by 2012 []
> India imported 11.6T gold in June - trade body []
PRICES
Precious metals prices at 0008 GMT
Metal Last Change Pct chg Day ago pct MA 30 RSI
Spot gold $925.25 $0.65 +0.07% +3.15% $860.10 51
Spot silver $12.89 $0.01 +0.08% +7.60% $11.29 34
Spot plat $1129.00 $1.50 +0.13% +12.96% $961.97 43
COMEX gold $925.50 $33.20 +3.72% +1.28% $872.79 49
TOCOM gold 2,793 137 +5.16% +3.87% 2,529 45
TOCOM plat 3,416 505 +17.35% +18.78% 2,759 43
Currencies
Euro/dlr $1.398 $0.097 +7.47% +7.88%
Dlr/yen 93.55 2.09 +2.29% +1.88%
TOCOM prices in yen per gram, except TOCOM silver which is
priced in yen per 10 grams. Spot prices in $ per ounce.
(Reporting by Miho Yoshikawa; Editing by Edwina Gibbs)
