TOKYO, Nov 6 (Reuters) - Gold edged down to stay below $1,090
per ounce on Friday, extending falls into a second day as its
rally this week on anticipation of renewed central bank demand
had stopped at a record $1,097.25 and failed to top $1,100.
FUNDAMENTALS
* Spot gold <XAU=> was at $1,088.75 per ounce at 0014 GMT,
down 0.1 percent from New York's notional close of $1,089.55. It
rose as high as $1,097.25 on Wednesday.
* U.S. gold futures for December delivery <GCZ9> were little
changed at $1,089.60 an ounce after rising $2 to $1,089.30 on
Thursday.
* The world's largest gold-backed exchange-traded fund, SPDR
Gold Trust <GLD>, said its holdings fell 0.055 tonnes to
1,108.344 tonnes on Thursday, marking the first decline since
Oct. 30. []
* Asian central banks appear to be in little hurry to follow
India's lead and make big purchases of gold given its high market
price and the availability of cheaper domestically produced gold.
[]
MARKET NEWS
* Six weeks after world leaders vowed to rebalance the global
economy, finance officials are set this weekend to struggle with
the complex, politically sensitive process of building a
mechanism to achieve that goal. [] []
* The dollar edged up against major currencies on Thursday,
recovering from some recent losses, as investors booked profits
before a monthly U.S. employment report which is expected to shed
more light on the health of the economy. []
* Oil fell nearly 1 percent to below $80 a barrel on
Thursday, as doubts about a recovery in oil demand outweighed
positive economic signals. []
* U.S. stocks jumped on Thursday, pushing the S&P 500 up for
a fourth day, as economic data boosted confidence in the recovery
and strong results from Cisco Systems suggested a rebound in
technology spending. []
DATA EVENTS
* The following data is expected on Friday: <ECON>
- Japan Cabinet meeting followed by news conferences (N/A)
- Australian Prime Minister Rudd speaks (0315 GMT)
- Japan Sept leading/coincident indexes for Sept (0500 GMT)
- First day of G-20 meeting in St Andrews, Scotland (N/A)
- Swiss Oct jobless (0645 GMT)
- UK Oct producer prices (0930 GMT)
- German Sept industrial orders (1100 GMT)
- U.S. employment report for Oct (1330 GMT)
- U.S. wholesale inventories for Sept (1500 GMT)
- U.S. consumer credit for Sept (2000 GMT)
RELATED NEWS
>Gold edges up, harvest tumbles grains []
>U.S. productivity surges, job growth should flow[]
>INTERVIEW-Goldcorp CEO sees gold above $1,500/oz[]
>Commodity assets rise $2.2 bln in Oct-Barclays []
>Abu Dhabi's gold retailers face sales down-trade []
>Federated sees demand for agri,gold in decline []
>Dlr losing its luster but still reigns globally []
>Investment opportunities in gold, commds-Fink []
>TECHNICALS-Gold may retrace; uptrend strong []
PRICES
Precious metals prices at 0017 GMT
Metal Last Change Pct chg Day ago pct MA 30 RSI
Spot gold $1088.85 -$0.70 -0.06% +21.39% $860.10 73
Spot silver $17.38 $0.01 +0.06% +45.08% $11.29 57
Spot plat $1354.00 $0.50 +0.04% -0.40% $1339.60 57
TOCOM gold 3,188 16 +0.50% +0.95% 3,056 70
TOCOM plat 3,955 6 +0.15% +0.33% 3,886 58
Currencies
Euro/dlr $1.487 -$0.002 -0.10% -0.07%
Dlr/yen 90.72 -0.03 -0.03% +0.04%
(Reporting by Risa Maeda; Editing by Michael Watson)
