September 30, 2014 / 1:03 AM / in 6 years

PRECIOUS-Gold poised for worst month in 15 months on dollar strength

SINGAPORE, Sept 30 (Reuters) - Gold held steady above a
nine-month low on Tuesday, but was poised to post its sharpest
monthly loss in 15 months as a  rapid climb in the dollar dimmed
the metal's appeal.
    
    FUNDAMENTALS
    * Spot gold was little changed at $1,216.55 an ounce
by 0038 GMT, after dipping in the last two sessions.  
    * Gold is down 5.5 percent for the month - its worst monthly
performance since June 2013 - after hitting a nine-month low of
$1,206.85 last week. It is also on track to post its first
quarterly loss of the year. 
    * Silver was set for a third monthly loss in a row,
while platinum was headed for its worst monthly decline
since May 2012 with a drop of more than 8 percent. 
    * Palladium was the worst performer among precious
metals with a 12.4 percent loss - its worst since September
2011.
     * The dollar climbed to a four-year peak against a basket
of major currencies in September, helped by strong U.S. economic
data and speculation that the Federal Reserve will hike interest
rates sooner and faster than expected. It is on track to post
its biggest monthly gain in well over a year. 
    * A stronger greenback makes the dollar-denominated metals
more expensive for holders of other currencies.
    * Latest data on Monday showed U.S. consumer spending
accelerated in August, a positive sign for an economy that
appears to be firing on nearly all cylinders. 
    * Investors were also watching political unrest in Hong Kong
for any worsening of tensions as that could lead to safe-haven
bids. Equities have already taken a hit from the protests.
    * Tens of thousands of pro-democracy protesters blocked Hong
Kong streets in the early hours on Tuesday, maintaining pressure
on China as it faces one of its biggest political challenges
since the Tiananmen Square crackdown 25 years ago.
 
    * In physical markets, the U.S. Mint said it has sold more
than 50,000 ounces of American Eagle gold coins so far in
September, its highest monthly sales since January.
 
    * Russian precious metals and gems repository Gokhran is
likely to start buying palladium in 2015, Interfax news agency
reported on Monday, citing Andrey Yurin, the head of Gokhran.
 
    * For the top stories on metals and other news, click
 or 
    
    MARKET NEWS
    * Global equity markets fell on Monday as civil unrest in
Hong Kong weighed on investor sentiment, while U.S. Treasury
debt prices rose over uncertainty sparked by the protests.
 
    
    DATA/EVENTS (GMT)
    0145 China HSBC manufacturing PMI Final Sep 
    0600 Germany Retail sales Aug 
    0645 France Consumer spending July 
    0755 Germany Unemployment rate Sep 
    0900 Euro zone Consumer prices Sep 
    0900 Euro zone Unemployment rate Aug 
    1300 U.S. S&P/Case-Shiller housing index July 
    1345 U.S. Chicago PMI Sep 
    1400 U.S. Consumer confidence Sep

    PRICES AT 0038 GMT
 Metal            Last     Change   Pct chg
                                            
 Spot gold        1216.55     0.86      0.07
 Spot silver        17.44    -0.02     -0.11
 Spot platinum    1301.25     1.05      0.08
 Spot palladium    785.75    -0.75      -0.1
 Comex gold        1217.4     -1.4     -0.11
 Comex silver      17.475   -0.092     -0.52
 Euro              1.2685                   
 DXY                85.62                   
                                            
 COMEX gold and silver contracts show the
 most active months
 
 (Reporting by A. Ananthalakshmi; Editing by Edwina Gibbs)
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