TOKYO, Aug 3 (Reuters) - Gold rose on Monday, extending gains
from the previous day's steep rise, as the dollar fell broadly and
hit its lowest point this year against a basket of currencies on
growing investor risk appetite.
FUNDAMENTALS
* Spot gold <XAU=> rose 0.3 percent to $956.50 an ounce,
compared with New York's notional close of $953.75 per ounce.
* Gold rose sharply on Friday when the dollar slid as
better-than-forecast second-quarter U.S. gross domestic product
and Midwest manufacturing data increased investor risk appetite,
prompting them to exit dollars and buy commodities.
* U.S. gold futures for December delivery <GCZ9> also rose
0.3 percent, to $958.70 on Monday, compared with $955.80 an ounce
on the COMEX division of the New York Mercantile Exchange.
* The world's largest gold-backed exchange-traded fund, the
SPDR Gold Trust <GLD>, said holdings stood at 1,072.87 tonnes as
of July 31, 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 61.21
tonnes, or 0.7 percent to a record 8,828.14 tonnes as of July 31.
The holdings hit the previous record of 8,766.93 tonnes on July
14, a level it maintained until July 31. []
* Noncommercial net long New York gold futures positions
eased slightly to 172,771 lots in the week to July 28 from
173,302 lots the previous week, the weekly Commitments of Traders
report by the Commodity Futures Trading Commission showed.
[]
MARKET NEWS
* Japan's Nikkei stock average was nearly flat. []
* The S&P 500 ended its best five-month streak since 1938
with a slight gain on Friday as government data showed softness
in consumer spending but reinforced expectations the economic
slump is abating. []
* The dollar <.DXY> fell broadly on Monday and hit its lowest
point this year against a basket of currencies after higher oil
prices, steady global stock markets and data late last week
showing an unexpectedly small contraction in the U.S. economy
boosted risk appetite and curbed safe-haven demand for the
greenback. []
DATA, EVENTS
* The following data is expected on Monday: <ECON>
- German manufacturing PMI for July. (0753 GMT)
- Euro zone manufacturing PMI for July. (0758 GMT)
- The Institute for Supply Management's July manufacturing
index. (1400 GMT)
- U.S. construction spending for June. (1400 GMT)
- U.S. auto sales for July. (N/A)
RELATED NEWS
> Gold races to 4-day high as dollar slips to 2009 low []
> Gold scrap sales provisionally fall 40 pct-GFMS []
> India gold demand abates after pick-up []
> India gold demand seen picking up from Aug:WGC[]
> AngloGold to end hedgebook, cuts 09 output view[]
> Hopes stir recession may be easing its grip []
PRICES
Precious metals prices at 0002
Metal Last Change Pct chg Day ago pct MA 30 RSI
Spot gold $955.95 $2.05 +0.21% +6.57% $860.10 65
Spot silver $14.02 $0.13 +0.94% +17.03% $11.29 65
Spot plat $1209.50 $2.00 +0.17% +27.45% $948.98 64
COMEX gold $957.50 $69.30 +7.80% +6.45% $857.64 63
TOCOM gold 2,921 338 +13.09% +11.96% 2,476 61
TOCOM plat 3,697 957 +34.93% +33.71% 2,659 62
Currencies
Euro/dlr $1.429 $0.115 +8.77% +8.43%
Dlr/yen 94.66 4.28 +4.74% +6.46%
(Reporting by Chikako Mogi; Editing by Chris Gallagher)
