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PRECIOUS-Gold flat; focus on Greek debt crisis

Published 06/26/2011, 09:07 PM
Updated 06/26/2011, 09:12 PM
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By Rujun Shen

SINGAPORE, June 27 (Reuters) - Spot gold traded flat on Monday after staging its worst week since early May with a 2.5 percent slide, as investors continued to watch Greece's sovereign debt crisis ahead of a key parliament vote later in the week.

FUNDAMENTALS

* Spot gold was little changed at $1,499.99 an ounce by 0042 GMT, after falling 3 percent in the past two sessions.

* U.S. gold was flat at $1,500.90.

* Greece's parliament begins on Monday to debate a deeply unpopular austerity plan which international lenders are demanding to see approved this week to avert the threat of bankruptcy.

* Money managers raised bullish bets in COMEX gold to the highest level since the week of April 24 last week, before prices tumbled about $60 in three sessions, data from the Commodity Futures Trading Commission showed Friday.

* Spot silver fell to $33.88, its lowest in more than a month, before regaining some lost ground to $34.06.

* U.S. silver fell 1.6 percent to $34.10.

* For the top stories on metals and other news, click , or

MARKET NEWS

* Wall Street dropped for a third day on Friday on worries about the Italian banking sector and Greece's debt crisis, but the S&P 500 managed to hold its 200-day moving average in a sign buyers still see value.

* The dollar index rose to its highest since June 16 on Monday while the euro languished, as investors await a decision by Greece's parliament on passage of austerity measures.

DATA/EVENTS 1030 EZ ECB's Stark delivers speech 1230 U.S. Personal income mm May 1230 U.S. Chicago Fed Midwest manufacturing index, May 1430 U.S. Dallas Fed Texas manufacturing index, June

PRICES Precious metals prices 0042 GMT Metal Last Change Pct chg YTD pct chg Volume Spot Gold 1499.99 0.44 +0.03 5.67 Spot Silver 34.06 -0.20 -0.58 10.37 Spot Platinum 1677.49 4.50 +0.27 -5.09 Spot Palladium 724.72 -2.08 -0.29 -9.35 TOCOM Gold 3903.00 -43.00 -1.09 4.67 45449 TOCOM Platinum 4417.00 -59.00 -1.32 -5.94 8404 TOCOM Silver 88.60 -2.60 -2.85 9.38 562 TOCOM Palladium 1892.00 -59.00 -3.02 -9.78 179 COMEX GOLD AUG1 1500.90 0.00 +0.00 5.59 3985 COMEX SILVER JUL1 34.10 -0.54 -1.55 10.21 2299 Euro/Dollar 1.4116 Dollar/Yen 80.75 TOCOM prices in yen per gram. Spot prices in $ per ounce. COMEX gold and silver contracts show the most active months (Editing by Ed Lane)

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