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PRECIOUS-Gold steadies after fall;eurozone hopes weigh

Published 09/14/2011, 08:25 PM
Updated 09/14/2011, 08:28 PM
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SINGAPORE, Sept 15 (Reuters) - Gold steadied on Thursday but was still under pressure from rising equities and optimism over tentative steps by European policy makers to resolve and contain the region's debt crisis.

FUNDAMENTALS

* Spot gold added $5.39 to $1,825.49 an ounce by 0017 GMT, having fallen 0.7 percent in the previous session. Bullion was well below a lifetime high around $1,920 an ounce struck last week.

* U.S. gold futures added $1.1 to $1,827.60 an ounce.

* The leaders of France and Germany told Greek Prime Minister George Papandreou in a conference call on Wednesday it was vital to implement reforms and meet fiscal goals set under a July 21 bailout plan.

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

MARKET NEWS

* The Nikkei average rose on Thursday after U.S. stocks marked their third day of gains following European leaders' suggestion of renewed resolve to contain the euro-zone debt crisis.

* The euro held on to gains against the greenback in another volatile session on Thursday, boosted by stronger stocks and calming words from European leaders about Greece's future, but sentiment remains extremely fragile.

* Brent crude rose Wednesday on hopes the euro zone's debt crisis would ease, while U.S. oil futures fell following data showing a surprise increase in U.S. product inventories.

DATA/EVENTS

0900 EZ Inflation, final yy Aug 2011

1230 U.S.Initial jobless claims Weekly

1230 U.S.Empire State index Sep

1230 U.S.Consumer prices mm Aug

1230 U.S.Consumer prices, core mm Aug

1230 U.S.Consumer prices, core yy Aug

1230 U.S.CPI Index level

1315 U.S.Industrial output mm Aug

PRICES

Precious metals prices 0017 GMT Metal Last Change Pct chg YTD pct chg Volume Spot Gold 1825.49 5.39 +0.30 28.61 Spot Silver 40.70 0.03 +0.07 31.89 Spot Platinum 1813.49 4.77 +0.26 2.60 Spot Palladium 719.25 3.75 +0.52 -10.04 TOCOM Gold 4515.00 -12.00 -0.27 21.08 31166 TOCOM Platinum 4518.00 11.00 +0.24 -3.79 3102 TOCOM Silver 99.90 -0.40 -0.40 23.33 187 TOCOM Palladium 1807.00 -6.00 -0.33 -13.83 153 COMEX GOLD DEC1 1828.80 2.30 +0.13 28.66 2227 COMEX SILVER DEC1 40.82 0.28 +0.70 31.92 260 Euro/Dollar 1.3741 Dollar/Yen 76.76 TOCOM prices in yen per gram. Spot prices in $ per ounce. COMEX gold and silver contracts show the most active months (Reporting by Lewa Pardomuan; Editing by Clarence Fernandez)

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