Gold steady near 1-week high but weak stocks weigh
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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