June 7, 2011 / 12:34 AM / in 6 years

PRECIOUS-Gold firms near 1-month high on economic worry

 SINGAPORE, June 7 (Reuters) - Gold ticked up on Tuesday,
after rising to its strongest in more than a month in the
previous session, as worries about a slowing U.S. economy
prompted purchases from investors seeking an alternative
investment.  	
       	
 FUNDAMENTALS	
 * Spot gold added $1.11 to $1,544.16 an ounce by 0012
GMT after rising as high as $1,553.30 on Monday. Gold is still
well below a lifetime high around $1,575 touched in early May.	
 * Silver hardly moved at $36.82 an ounce, below a
record at $49.51 an ounce hit in April.	
 * U.S. Federal Reserve officials on Monday said recent
economic data has been disappointing, with one suggesting it
could delay the Fed's exit from its extremely easy monetary
policy. [ID:nN06299146]	
	
 MARKET NEWS	
 * The Nikkei edged lower on Tuesday, hit by losses on Wall
Street due to fears of a slowing U.S. economy, but the
benchmark's support level of 9,317 is expected to hold. 
 	
* The euro edged up on Tuesday, steadying from a slide in a
relatively subdued session overnight after the Eurogroup
chairman said the common currency was overvalued. 	
 * India's gold futures rose on Monday chasing gains in the
overseas markets, while demand in domestic spot market improved
despite price rise as jewellers, who were waiting for a
correction, made significant purchases. 	
                 	
 DATA EVENTS (GMT)	
 0430 Australia RBA cash rate, Jun 2011   	
 0900 EZ retail sales, April	
 1145 U.S. ICSC chain stores yy Weekly    	
 1900 U.S. consumer credit, April  	
 	
 Precious metals prices 0012 GMT
 Metal             Last    Change  Pct chg  YTD pct chg  Turnover
 Spot Gold        1544.16    1.11   +0.07      8.79
 Spot Silver        36.82    0.09   +0.25     19.31
 Spot Platinum    1804.99   -0.31   -0.02      2.12
 Spot Palladium    787.72    3.72   +0.47     -1.47
 TOCOM Gold       3988.00  -16.00   -0.40      6.95        19052
 TOCOM Platinum   4704.00  -58.00   -1.22      0.17         3539
 TOCOM Silver       94.80   -0.30   -0.32     17.04          403
 TOCOM Palladium  2030.00  -20.00   -0.98     -3.20          141
 Euro/Dollar       1.4585
 Dollar/Yen         80.13
 
 TOCOM prices in yen per gram. Spot prices in $ per ounce.
 	
	
 (Reporting by Lewa Pardomuan; Editing by Himani Sarkar)	
 	
 

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