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

Mon Oct 25, 2010 2:55am GMT
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(Fixes typo in data/events section) 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
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
TOCOM Platinum 4414.00 14.00 +0.32 0.75
TOCOM Silver 61.50 0.70 +1.15 18.96
TOCOM Palladium 1548.00 -4.00 -0.26 32.88
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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