Gold steady near 1-week high but weak stocks weigh

Thu Nov 20, 2008 12:42am GMT
 
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 SINGAPORE, Nov 20 (Reuters) - Gold was steady on Thursday,
after having risen to its strongest in more than a week the
previous session, but declines in equities were likely to cap
gains.
 -- Gold <XAU=> was trading at $734.20 an ounce, up $1.35
from New York's notional close on Wednesday, when it hit an
intraday high of $762.30 an ounce due to early gains in oil.
 -- Global demand for gold jumped 18 percent year-over-year
to 1,133.4 tonnes in the third quarter, reversing a weaker
trend earlier this year, because of strong buying by investors
and a lower gold price -- World Gold Council. [ID:nN18273690]
 -- Japan's Nikkei average fell over 3 percent on Thursday
to slip below 8,000 for the first time in three weeks, battered
by a stronger yen that hit exporters such as Canon Inc
(7751.T). [.T]
 -- Investors cashed in on bullion to pay losses in
equities.
 -- Oil CLc1 continued its fall on Thursday after settling
at a 22-month low the previousday, with U.S. inventories rising
and economic concernsincreasing worries about oil demand. [O/R]
 -- Platinum <XPT=> was trading at $805.50 an ounce, down
$3.00 from New York's notional close.
 -- New York gold futures GCZ8 fell $1.0 an ounce to
$735.0.
 Precious metals prices at 0029 GMT
 Metal             Last    Change  Pct chg  YTD pct chg
Turnover
 Spot Gold         734.20    1.35   +0.18    -11.83
 Spot Silver         9.21    0.00   +0.00    -37.64
 Spot Platinum     805.50   -3.00   -0.37    -47.01
 Spot Palladium    184.00    3.50   +1.94    -50.00
 TOCOM Gold       2259.00  -45.00   -1.95    -26.18        
5425
 TOCOM Platinum   2520.00 -119.00   -4.51    -52.80        
3061
 TOCOM Silver      285.30  -12.90   -4.33    -47.26         
178
 TOCOM Palladium   600.00  -80.00  -11.76    -55.59          
95
 Euro/Dollar       1.2499
 Dollar/Yen         95.73
 TOCOM prices in yen per gram, except TOCOM silver which is
priced in yen per 10 grams. Spot prices in $ per ounce.
 (Reporting by Lewa Pardomuan; Editing by Clarence Fernandez)




































 
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