LONDON, Feb 21 (Reuters) - Gold rose to a seven-week high
on Monday as spreading political tensions in the Middle East
boosted the metal's appeal as a safe-haven asset, while silver
and palladium hit historic highs on expectations of increasing
industrial demand.
For latest market report, see []
PRICES
* Spot gold <XAU=> was bid at $1,396.75 at 0759 GMT from
$1,388.58 late in New York on Friday.
* Silver <XAG=> was at $33.33 from $32.46. Earlier, the
metal touched a 31-year high at $33.38.
* Platinum <XPT=> was at $1,839.99 from $1,833.50.
* Palladium <XPD=> was at $855.22 from $848.25. Ealier it
touched a ten-year high at $858.97.
DATA/EVENTS
* Germany flash PMI's for February, 0825 GMT
* Euro zone flash PMI'S for February, 0858 GMT
* Germany IFO survey for February, 0900 GMT
[] [] [] [] []
MARKET NEWS
*Oil prices jumped by over a dollar and Asian shares mostly
eased on Monday as spreading tensions in Libya and other
oil-producing regions encouraged some mild profit taking after
last week's solid gains. []
* European shares were set to slip from near 29-month highs
on Monday, with spreading tension in Libya and other
oil-producing regions encouraging profit taking, though energy
companies might rise as crude prices gain. []
* The euro dipped on profit-taking on Monday after hitting
its highest level in more than 10 days as a European Central
Bank official kept alive the prospect of the ECB hiking interest
rates before the Federal Reserve. []
* Oil jumped by over $1.00 a barrel, as violent clashes in
OPEC-member Libya heightened fears of social unrest spreading
across the Middle East and North Africa and disrupting supplies
in the major oil-producing region. []
FUNDAMENTALS
* Holdings in the world's largest silver-backed
exchange-traded fund, iShares Silver Trust <SLV>, rose to
10,519.05 tonnes by Feb. 18 from 10,438.56 tonnes on Feb. 17.
[]
* The world's largest gold-backed exchange-traded fund, the
SPDR Gold Trust <GLD>, said holdings fell to 1,223.098 tonnes by
Feb. 20, its lowest in nine months, from 1,224.008 tonnes on
Feb. 15. []
TECHNICALS
* Gold support at $1,379 an ounce, resistance at $1,402 an
ounce and 14-day RSI at 66.
* Platinum support at $1,828 an ounce, resistance at $1,852
and 14-day RSI at 58.
* Silver support at $31.75 an ounce, resistance at $33.70
and 14-day RSI at 77.
For related news and prices, click on the codes in brackets:
Spot gold/silver <XAU=> <XAG=> Platinum/palladium <XPT=><XPD=>
Gold lease rates <LGLR> Comex gold futures <0#GC:>
Europe/Asia prices <GOLD/EU1> <GOLD/EU2> <GOLD/ASIA1>
CBOT 100 oz gold futures <0#ZG:>
RELATED NEWS AND OTHER TOPICS
Precious metals news [] All metals news []
Metals summary [] Index of summaries []
All commodities news [] Metals diary []
Ldn Bullion Mkt Assoc <LBMA01> Foreign exchange rates <FX=S>
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(Reporting by Silvia Antonioli; editing by Keiron Henderson)
(silvia.antonioli@reuters.com; +44 20 7542 0901; Reuters
Messaging: silvia.antonioli.reuters.com@reuters.net))
