SINGAPORE, Sept 14 (Reuters) - Spot gold edged higher on Wednesday, supported by worries about a worsening debt crisis in euro zone, while short-term bearish technicals are likely to cap gains.
FUNDAMENTALS
* Spot gold inched up 0.2 percent to $1,837.44 an
ounce by 0026 GMT. U.S. gold
* Technical analysis suggested that U.S. gold could move sideways in the next few weeks, while commodities as a whole may correct moderately by the end of the year, said Reuters market analyst Wang Tao.
* Fears over the euro zone's debt crisis hit new heights on Tuesday, with U.S. President Barack Obama pressing the bloc's big countries to show leadership as talk of a Greek default escalated and markets heaped pressure on Italy.
* Holdings of the world's largest gold-backed exchange-traded fund, SPDR Gold Trust , edged lower to 1,241.311 tonnes by Sept. 13 from a 2-1/2-week high of 1,241.917 tonnes on September 9.
* Barrick Gold, the world's largest gold producer, plans to invest $550 million in Peru by 2013, the head of Barrick Misquichilca, the company's Peruvian subsidiary, said on Tuesday.
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MARKET NEWS
* U.S. stocks gained on Tuesday as investors bought shares beaten down in recent weeks and bet European leaders would take action soon to ease the Greek debt crisis.
* The euro held onto modest gains against the greenback in Asia on Wednesday, as bears trimmed short positions just in case EU leaders surprised by making progress on Greece in a conference call later in the day.
DATA/EVENTS 0430 Japan Industrial output rev Jul 2011 0900 EZ Industrial production yy Jul 2011 1230 U.S. PPI inflation yy, NSA Aug 1230 U.S. Producer prices mm Aug 1230 U.S. Producer prices, core mm Aug 1230 U.S. Producer prices, core yy Aug 1230 U.S. Retail sales mm Aug 1400 U.S. Business inventories mm Jul 2100 N.Zealand Cen Bank Interest Rate 2330 Japan Reuters Tankan DI Sep 2011
PRICES
Precious metals prices 0026 GMT Metal Last Change Pct chg YTD pct chg Volume Spot Gold 1837.44 4.14 +0.23 29.45 Spot Silver 41.07 0.04 +0.10 33.08 Spot Platinum 1817.00 6.73 +0.37 2.80 Spot Palladium 721.99 0.49 +0.07 -9.69 TOCOM Gold 4553.00 26.00 +0.57 22.10 46354 TOCOM Platinum 4536.00 -10.00 -0.22 -3.41 4021 TOCOM Silver 101.10 0.90 +0.90 24.81 185 TOCOM Palladium 1815.00 23.00 +1.28 -13.45 109 COMEX GOLD DEC1 1841.80 11.70 +0.64 29.58 2345 COMEX SILVER DEC1 41.21 0.02 +0.04 33.19 330 Euro/Dollar 1.3696 Dollar/Yen 76.90 TOCOM prices in yen per gram. Spot prices in $ per ounce. COMEX gold and silver contracts show the most active months
(Reporting by Rujun Shen;Editing by Clarence Fernandez)