TOKYO, Sept 8 (Reuters) - Gold inched up on Tuesday as the
dollar's weakness, concerns about the sustainability of global
economic recovery and worries of future inflation underpinned
sentiment, with traders eyeing $1,000 an ounce.
FUNDAMENTALS
* Spot gold <XAU=> edged up 0.1 percent to $995.70 per ounce,
compared to New York's notional close of $993.85. It was quoted
at $993.40 late in New York on Friday. The price rose as high as
$997.20 last week -- its highest since February, when it briefly
topped $1,000. U.S. markets were closed on Monday for Labor Day
holiday.
* U.S. gold futures for December delivery <GCZ9> were at
$997.90 per ounce, after settling at $996.70 on Friday. The
contract rose to $999.50 on Thursday, the highest price since
February.
* The world's largest gold-backed exchange-traded fund, the
SPDR Gold Trust <GLD>, said holdings stood at 1,077.63 tonnes as
of Sept. 7, unchanged from Friday. []
MARKET NEWS
* Japan's Nikkei stock average <> is likely to edge
higher on Tuesday, bolstered by gains in European stocks, with a
slight weakening of the yen boosting Canon Inc <7511.T> and other
exporters. []
* The dollar was steady after falling the previous day as a
weekend meeting of global finance chiefs boosted investor
appetite for growth-related "riskier" assets like commodities and
stocks. [] <FXNEWS>
DATA EVENTS
* The following data is expected on Tuesday: <ECON>
- Japan economy watchers poll for August. (0500 GMT)
- German July trade data. (0600 GMT)
- UK July manufacturing and industrial production. (0830 GMT)
- German July industrial output. (1000 GMT)
- U.S. employment trend index for August. (1400 GMT)
- European Central Bank Governing Council member Alex Weber
speaks. (1445 GMT)
- U.S. consumer credit for July. (1900 GMT)
- ABC U.S. weekly consumer comfort index. (2100 GMT)
RELATED NEWS
>Gold steady below $1,000; silver hits 13-mth high []
>Oil pushes towards $69; G20 lifts sentiment []
>SAfrica workers end platinum mine strike []
>OPEC to eye econ stimulus, not just oil supply []
>HK gold premiums at 3-mth lows;India buy eases []
PRICES
Precious metals prices at 2342 GMT
Metal Last Change Pct chg Day ago pct MA 30 RSI
Spot gold $995.45 $1.60 +0.16% +10.98% $860.10 82
Spot silver $16.28 -$0.01 -0.06% +35.89% $11.29 87
Spot plat $1260.50 $5.50 +0.44% +32.82% $948.98 65
COMEX gold $996.30 $108.10 +12.17% +10.76% $857.64 80
TOCOM gold 2,980 397 +15.37% +14.22% 2,476 70
TOCOM plat 3,772 1032 +37.66% +36.42% 2,659 54
Currencies
Euro/dlr $1.434 $0.120 +9.15% +8.81%
Dlr/yen 92.98 2.60 +2.88% +4.57%
(Reporting by Chikako Mogi; Editing by Rodney Joyce)
