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PRECIOUS-Gold hits record on euro, silver jumps to 31-year high

Published 04/10/2011, 08:45 PM
Updated 04/10/2011, 08:48 PM
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SINGAPORE, April 11 (Reuters) - Gold jumped to a record high for a fifth straight trading day on Monday as the euro rose to 15-month highs against the U.S. dollar, while firm oil prices and an increase in ETF holdings to an all-time high helped silver hit a 31-year high above $41 an ounce.

FUNDAMENTALS

* Spot gold added $2.55 an ounce to $1,475.25 an ounce by 0036 GMT, having risen as high as $1,476.21 -- its highest ever.

* Spot silver rose as high as $41.32 an ounce, its strongest since 1981.

* IShares Silver Trust said its holdings hit another record at 11,242.89 tonnes by April 8 from 11,192.80 tonnes on April 7.

* U.S. gold futures for June added $2.50 an ounce to $1,476.6 an ounce after rising to a record at $1,478 an ounce.

MARKET NEWS

* The yen stayed on the backfoot early in Asia on Monday, while while the euro extended gains to 15-month highs around $1.4488 , paving the way for a test of $1.4582, the January 2010 high.

* U.S. crude futures rose above $113 a barrel on Monday, their highest level since September 2008, as a weak dollar continued to support a recent rally in commodities.

* Japan's Nikkei benchmark fell on Monday after higher oil prices hit U.S. stocks on Friday, but buying in reconstruction-related stocks may lend support, keeping trade confined to a narrow range.

DATA EVENTS (GMT)

0530 India Industrial Output y/y Feb 2011

0645 France Industrial output mm Feb 2011

0800 Italy Industrial output yy WDA Feb 2011

2350 Japan Bank lending yy Mar 2011

Precious metals prices 0036 GMT Metal             Last    Change  Pct chg  YTD pct chg  Turnover Spot Gold        1475.25    2.55   +0.17      3.93 Spot Silver        41.24    0.39   +0.95     33.64 Spot Platinum    1812.49  8.74   +0.48      2.55 Spot Palladium    800.22   9.47   +1.20      0.09 TOCOM Gold       4041.00   18.00   +0.45      8.37        29103 TOCOM Platinum   4972.00   26.00   +0.53      5.88         6647 TOCOM Silver      112.90    3.00   +2.73     39.38         1301 TOCOM Palladium  2199.00   35.00   +1.62      4.86          255 Euro/Dollar       1.4450 Dollar/Yen         84.99 TOCOM prices in yen per gram. Spot prices in $ per ounce.

(Reporting by Lewa Pardomuan; Editing by Michael Urquhart)

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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