💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

PRECIOUS-Factors to watch on June 17

Published 06/17/2011, 03:14 AM
Updated 06/17/2011, 03:16 AM
PMC
-
AODCq
-
GC
-
SI
-
PA
-
PL
-
GLD
-
SLV
-

LONDON, June 17 (Reuters) - Gold was little changed on Friday, but jitters about whether Greece was edging closer to default and economic spillover from the country's debt crisis could still spur safe haven buying.

For latest market report, click on [GOL/].

PRICES * Spot gold was bid at $1,527.60 an ounce at 0704 GMT compared with $1,528.35 late in New York on Thursday.

* Silver was at $35.36 from $35.48.

* Platinum was at $1,762.99 from $1,752.20

* Palladium was at $759.22 from $752.40.

DATA/EVENTS

* Euro zone trade data for April; 0900 GMT

* ECB'S Bini Smaghi speaks, Stockholm; 1100 GMT

* Thomson Reuters/Univ of Mich June preliminary consumer

sentiment; 1355 GMT

* U.S. leading indicators for May; 1400 GMT

* U.S. ECRI weekly; 1430 GMT

[ECI/US] [ECI/EURO] [ECI/GB]

[M/DIARY] [MTL/DIARY]

MARKET NEWS

* The euro fell on Friday, with investors still largely unconvinced that Greece can dodge a debt default without more political stability in Athens, keeping equity and commodity prices in a near-term downtrend. [MKTS/GLOB]

* Brent crude dropped towards $113 on Friday as risk aversion grew because of Greece's debt crisis, sending prices down by more than 4 percent this week in the biggest drop since early May. [O/R]

* European stock index futures pointed to losses on Friday, with the region's benchmark indexes set to record a seventh straight weekly loss, on mounting concerns that Greece might not be able to avoid a debt default. [.EU]

FUNDAMENTALS

* Holdings of the largest silver-backed exchange-traded-fund (ETF), New York's iShares Silver Trust fell 0.27 percent from Wednesday to Thursday, while, the largest gold-backed ETF, New York's SPDR Gold Trust remained unchanged for the same period. [ID:nSGE75F013]

* AngloGold Ashanti's Cerro Vanguardia gold and silver mine was operating normally after striking miners reached a deal with the company, a mine spokesman said late on Thursday [ID:nN16207826].

* Russia will not auction the rights to the Sukhoi log gold deposit in Siberia in 2011, Resources Minister Yuri Trutnev said on Friday. [ID:nLDE75G08R]

* Royal gold and Seabridge Gold Inc agree to private placement/royalty partnership in KSM [ID:nASA02BZ0]

TECHNICALS

* Gold 14-day RSI was at 51.7.

* Silver 14-day RSI was at 42.8.

* Platinum 14-day RSI was at 42.0.

(Editing by William Hardy)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.