LONDON, Dec 14 (Reuters) - Spot gold popped above $1,400 for
the first time in a week on Tuesday, riding on dollar weakness
and buying interest from China, but with year end approaching,
trading volumes remained light and prices erratic.
For latest market report, see []
PRICES
* Spot gold <XAU=> was bid at $1,403.65 at 0734 GMT from
$1,393.15 late in New York on Monday.
* Silver <XAG=> was at $29.79 from $29.48.
* Platinum <XPT=> at $1,705 from $1,695.74.
* Palladium <XPD=> at $756.47 from $754.47
DATA/EVENTS
* UK CPI for November at 0930 GMT.
* Germany ZEW index for December at 1000 GMT.
* Labor Dept releases Nov. Producer Price Index at 1330 GMT
* Commerce Dept releases Nov. retail sales at 1330 GMT.
* Commerce Dept issues Oct. Business Inventories at 1500
GMT.
* FOMC releases interest rate statement at 1915 GMT.
[] [] [] [] []
MARKET NEWS
* Asian stocks advanced on Tuesday, supported by optimism
that China would shun aggressive measures to curb inflation
that could inhibit its strong economic growth or blunt its
voracious demand for raw materials. []
* The euro hovered near its high for December against a
broadly weaker dollar on Tuesday, after surging the previous day
on solid buying from accounts including Asian central banks that
overwhelmed hedge fund sales. []
* Oil prices fell on Tuesday as investors continued to watch
for any new monetary policy announcements by China to tame high
inflation and ahead of U.S. oil industry stocks data. []
* The Nasdaq closed lower to end eight straight days of
gains on Monday as some large-cap tech stocks slid in a
late-day sell-off. []
* European stocks were seen mostly unchanged on Tuesday,
halting a brisk two-week rally following a mixed session on Wall
Street, with technical indicators signalling a potential
near-term retreat. []
FUNDAMENTALS
* JPMorgan Chase & Co. <JPM.N> has reduced a large
position in silver futures, the Financial Times reported on
Tuesday, citing a source familiar with the matter. The
company's silver futures positions would be "materially smaller"
in the future, the FT reported the source as saying.
[]
* The world's largest silver-backed exchange-traded fund,
iShares Silver Trust <SLV>, said its holdings eased to
10,891.18 tonnes by Dec 13 from a record high of 10,941.34
tonnes hit on Dec 7. []
* Canadian precious-metals explorer Minefinders Corp
<MFL.TO> said it will raise C$151.5 million ($150.6 million) in
a bought deal to fund expansion, mill construction and
development at its mines in Mexico and to repay debt.
[]
TECHNICALS
* Gold support at $1,384 an ounce, resistance at $1,409 and
14-day RSI at 58.6.
* Platinum support at $1,683 an ounce, resistance at $1,722
and 14-day RSI at 55.2.
* Silver support at $28.95 an ounce, resistance at $30.25
and 14-day RSI at 65.7.
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>
SPEED GUIDES
<COMMODS> <PRECIOUS1> <PRECIOUS/FUT1> <PRECIOUS/CASH1>
<PRECIOUS/SWAP1> <PRECIOUS/VOL1> <REUTERS>
(Reporting by Melanie Burton, editing by William Hardy)
