TOKYO, Oct 14 (Reuters) - Gold retreated from record highs on
Wednesday as the dollar steadied from a 14-month low against
major currencies, with traders eyeing further dollar weakness as
an impetus to push bullion to new highs.
FUNDAMENTALS
* Spot gold <XAU=> was little changed at $1,063.30 an ounce,
slipping from an all-time high of $1,068.30 an ounce hit on
Tuesday. Gold has rallied 12 percent since the beginning of
September.
* Most-active December gold futures <GCZ9> were unchanged at
$1,065.0 from the COMEX division of the New York Mercantile
Exchange. Gold futures hit a record high of $1,069.7 on Tuesday.
* The world's largest gold-backed exchange-traded fund, the
SPDR Gold Trust <GLD>, said its holdings stood at 1,109.314
tonnes as of Oct. 13, unchanged from the previous business day.
[]
* The world's largest silver-backed exchange-traded fund, the
iShares Silver Trust <SLV>, said its bullion holdings rose 18.35
tonnes, or 0.2 percent, from the previous day to 8,612.57 tonnes
on Tuesday.
* Gold's rally pulled other precious metals higher on
Tuesday. Silver <XAG=> rose above $18 an ounce for the first time
since July 2008, to $18.01. Silver was at $17.75 on Wednesday.
Platinum <XPT=> hit a 13-month high of $1,361.50 on Tuesday and
stood at $1,355.50 on Wednesday.
MARKET NEWS
* The dollar steadied on Wednesday after falling to a
14-month low the previous day against major currencies <.DXY>,
with investors betting the United States is likely to bring up
the rear in a global economic recovery led by Asia and
commodity-producing countries. []
* U.S. stocks weakened on Tuesday as disappointing sales from
Johnson & Johnson stirred jitters about the strength of earnings,
snapping the S&P 500's six-day winning streak. []
* Traders awaited earnings from key U.S. companies later in
the week for clues to the state of the economy.
DATA EVENTS
* The following data is expected on Wednesday: <ECON>
- Bank of Japan policy decision. (N/A)
- Japan September consumer confidence index. (0500 GMT)
- British ILO unemployment rate for August. (0830 GMT)
- Euro zone industrial production for August. (0900 GMT)
- Weekly U.S. mortgage market index. (1100 GMT)
- U.S. retail sales for September. (1230 GMT)
- U.S. import/export prices for September. (1230 GMT)
- ECB Executive Board member Bini Smaghi speaks. (1315 GMT)
- U.S. business inventories for August. (1400 GMT)
- Asian Development Bank chief economist Lee speaks. (1600
GMT)
- FOMC minutes opf Sept. 22-23 meeting. (1800 GMT0
RELATED NEWS
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>Jewellers sell scrap, Indian buying persists []
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PRICES
Precious metals prices at 2330 GMT
Metal Last Change Pct chg Day ago pct MA 30 RSI
Spot gold $1063.50 $0.15 +0.01% +18.56% $860.10 80
Spot silver $17.76 $0.01 +0.06% +48.25% $11.29 73
Spot plat $1355.50 -$3.00 -0.22% +1.42% $1313.18 70
COMEX gold $1065.00 -$0.20 -0.02% +0.71% $1014.55 79
TOCOM gold 3,062 -1 -0.03% +1.49% 2,953 76
TOCOM plat 3,904 6 +0.15% +1.32% 3,797 70
Currencies
Euro/dlr $1.484 -$0.001 -0.07% +0.49%
Dlr/yen 89.82 0.10 +0.11% -0.01%
(Reporting by Chikako Mogi; Editing by Rodney Joyce)
