Monday.. Oct.25/10, @ 12.41AM ..
posted on
Oct 25, 2010 12:42AM
We may not make much money, but we sure have a lot of fun!
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)