SINGAPORE, April 12 (Reuters) - Gold fell on Tuesday, hovering below a record high while silver was off a 31-year peak struck in the previous session as long-term commodity bull Goldman Sachs advised investors to lock-in trading profits before oil and other markets reverse.
FUNDAMENTALS
* Spot gold fell $9.94 an ounce to $1,456.81 an ounce by 0027 GMT, having hit a record around $1,476 an ounce on Monday on the prospect of more declines in the U.S. dollar.
* Spot silver slipped 19 cents to $39.98 an ounce, below a 31-year high at $41.93 struck on Monday.
* Goldman Sachs has told its clients there is a strong chance of key commodity prices reversing and recommended they take profits. [ID:nN11303064]
* U.S. gold futures for June dropped $9.6 an ounce $1,458.5 an ounce.
MARKET NEWS
* The yen and U.S. dollar found some reprieve in Asia on Tuesday as demand for red-hot commodity currencies like the Australian dollar waned, but dovish comments from Federal Reserve officials were seen likely to limit the greenback's upside potential.
Oil prices fell sharply in early Asian trading on Tuesday.
DATA EVENTS (GMT)
0900 Germany ZEW economic sentiment Apr 2011
1145 U.S. ICSC chain stores yy Weekly
1230 U.S. Import prices mm Mar
1230 U.S. International trade mm $ Feb
1300 Canada BoC rate decision 40881
Precious metals prices 0027 GMT Metal Last Change Pct chg YTD pct chg Turnover Spot Gold 1456.81 -9.94 -0.68 2.63 Spot Silver 39.98 -0.19 -0.47 29.55 Spot Platinum 1775.49 -4.81 -0.27 0.45 Spot Palladium 771.47 -9.88 -1.26 -3.51 TOCOM Gold 3961.00 -62.00 -1.54 6.22 30657 TOCOM Platinum 4840.00 -109.00 -2.20 3.07 6990 TOCOM Silver 108.70 -4.70 -4.14 34.20 1632 TOCOM Palladium 2112.00 -81.00 -3.69 0.72 159 Euro/Dollar 1.4407 Dollar/Yen 84.42 TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Reporting by Lewa Pardomuan; Editing by Ed Lane)
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