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Message: Monday.. Oct.25/10, @ 12.41AM ..

REFILE-PRECIOUS-Gold higher on weaker dollar; Bernanke eyed

Mon Oct 25, 2010 2:55am GMT
SINGAPORE, Oct 25 (Reuters) -
GOLD strengthened on Monday,
off its 2-½ week low hit on Friday, supported by a weaker
dollar, as investors await a speech from the U.S. Federal
Reserve Chairman Bernanke after the Group of 20 meeting.
  FUNDAMENTALS
 * Spot gold XAU= gained more than half a percent to
$1,335.30 an ounce by 0032 GMT, after staging its first weekly
decline in nearly three months last week.
 * U.S. December gold futures GCZ0 rose 0.9 percent to
$1,336.3 an ounce.
 * The U.S. dollar was lower on Monday with market focus
turning to a speech by the head of the Federal Reserve, after
the Group of 20 major economies agreed to shun competitive
currency devaluations. [USD/]
 * G20 finance ministers, however, failed to set targets to
reduce trade balances that are clouding global growth
prospects. [ID:nTOE69M004]
 * Investors are waiting for a speech by the U.S. Federal
Reserve Chairman Bernanke at 1230 GMT, for clues on timing and
extent of the anticipated monetary easing move.
 * Holdings in the SPDR Gold Trust (GLD: Quote) remained unchanged
at 1,298.266 tonnes, and iShares Silver Trust (SLV: Quote) reported
that its holdings stood unchanged at their record level of
10,224.05 tonnes.
 MARKET NEWS
 * U.S. stocks capped a third straight week of gains on
Friday as encouraging earnings helped the market sustain upward
momentum, led by Baidu Inc (BIDU.O: Quote), the latest tech company to
beat estimates. [.N]
 DATA/EVENTS
 - 0600    Euro zone industrial orders, Aug
 - 1230    Federal Reserve Chairman Bernanke gives speech
 - 1400    U.S. existing home sales for September
 RELATED NEWS > G20 pact to avert trade war, seals IMF power
shift[nTOE69M004] > 
Emerging economies gain clout, IMF doubles
quotas [nTOE69M01A] > 
G20 has to show compromise FX pact packs
meaning [nTOE69N00P] > 
U.S. Senate unlikely to follow House on
China yuan[nN24201411] > 
Germany agrees tax reform plan, relief
from 2012 [nLDE69N0D9] > 
Global confidence dips, no quick fix
seen-Nielsen [nLDE69L15W] > 
Geithner, China's Wang discuss
economic ties     [nTOE69N00F] > 
S.Korea firms' capex growth in
2011 seen slowing [nTOE69L015] > 
French pension law nears
adoption, unions fight on[nLDE69M05R] > 
EU leaders to back
diluted budget rules-draft    [nLDE69M0CK] > 
Oil edges up on
German data as dollar seesaws    [nSGE69L08A] > 
Fed aide: US
monetary easing may start at $500 bln[nN22217292]
 PRICES
Precious metals prices at 0032 GMT
 Metal             Last    Change  Pct chg  YTD pct chg
Turnover
 Spot Gold        1335.30    8.60   +0.65     21.87
 Spot Silver        23.44    0.20   +0.86     39.28
 Spot Platinum    1678.67   10.92   +0.65     14.43
 Spot Palladium    591.30    4.32   +0.74     45.82
TOCOM Gold       3495.00   26.00   +0.75      7.24       
22520
 TOCOM Platinum   4414.00   14.00   +0.32      0.75        
3516
 TOCOM Silver       61.50    0.70   +1.15     18.96         
407
 TOCOM Palladium  1548.00   -4.00   -0.26     32.88         
144
 Euro/Dollar       1.3994
 Dollar/Yen         81.19
 TOCOM prices in yen per gram. Spot prices in $ per ounce.
 (Reporting by Rujun Shen; Editing by Manash Goswami)


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