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PRECIOUS-Gold holds near record, silver ETF at all-time high

Published 04/07/2011, 08:52 PM
Updated 04/07/2011, 09:00 PM
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SINGAPORE, April 8 (Reuters) - Gold hardly moved on Friday after striking another record in the previous session, while silver could rise to a new high after ETF holdings rose to an all-time high as inflation worries lingered.

FUNDAMENTALS

* Spot gold eased 60 cents to $1,456.85 an ounce by 0046 GMT after rising to a record around $1,464 an ounce on Thursday on inflation concerns and expectations the European Central Bank's first rate hike since the 2008 financial crisis could weaken the dollar.

* Spot silver was steady at $39.54 an ounce, within sight of a 31-year peak of $39.75 struck on Wednesday.

* IShares Silver Trust said its holdings hit another record at 11,192.80 tonnes by April 7 from 11,162.45 tonnes on April 4. [ID:nL3E7F800Y]

* The world's largest gold-backed exchange-traded fund, SPDR Gold Trust , said its holdings rose to 1,217.209 tonnes by April 7, their highest since mid-March, from 1,205.467 tonnes on April 6.

* U.S. gold futures for June fell $1.1 to $1.458.2 an ounce.

MARKET NEWS

* The broad selloff in the yen stalled early in Asia on Friday as investors took profit on short positions following a major aftershock in northeast Japan, while comments from the European Central Bank head saw the euro retreat from 14-month highs.

* The Nikkei average slipped on Friday after a major earthquake rocked northeast Japan the night before, sending Wall Street lower, but losses were seen limited as the quake did not trigger a tsunami and there was no further damage to a crippled nuclear power plant.

* Oil prices ended at 2-1/2-year highs on Thursday as supply worries tied to fighting in Libya and Middle East turmoil overshadowed demand concerns spurred by a boost in euro zone interest rates and as a major aftershock struck Japan.

DATA EVENTS (GMT)

1130 India M3 Money Supply Final 40641 Precious metals prices 0046 GMT Metal             Last    Change  Pct chg  YTD pct chg  Turnover Spot Gold        1456.85   -0.60   -0.04      2.63 Spot Silver        39.54    0.03   +0.08     28.13 Spot Platinum    1780.74   -0.36   -0.02      0.75 Spot Palladium    765.97   -9.06   -1.17     -4.19 TOCOM Gold       3995.00    1.00   +0.03      7.13        32773 TOCOM Platinum   4899.00    7.00   +0.14      4.32         7464 TOCOM Silver      108.00    0.40   +0.37     33.33          552 TOCOM Palladium  2106.00  -20.00   -0.94      0.43          274 Euro/Dollar       1.4305 Dollar/Yen         85.07 TOCOM prices in yen per gram. Spot prices in $ per ounce. (Reporting by Lewa Pardomuan; Editing by Himani Sarkar)

Reuters Terminal users can see related news and prices by double clicking on the codes in brackets: - All precious metals headlines - Precious metals market reports - Daily fixing headlines - Technical analysis - Indian gold reports - European gold prices <0#PREC> - London interbank gold forward rates <0#GOFO=> - London silver forwards - Gold lease rates <0#LGLR=> - London Bullion Market Association - New York Comex gold <0#GC:> and silver <0#SI:> - New York platinum <0#PL:> and palladium <0#PA:> - Asian gold prices <0#PREC> - Australian precious metals prices <0#AUPREC=> - Shanghai Gold Exchange prices - Hong Kong gold exchange prices - Hong Kong bullion prices - Indian bullion prices <0#PREC-IN> - Japanese producer prices For Related News and other topics, double click on one of these codes: SPEED GUIDES

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