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PRECIOUS-Gold ticks up after biggest 1-day gain since May

Published 06/19/2011, 08:44 PM
Updated 06/19/2011, 08:48 PM
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SINGAPORE, June 20 (Reuters) - Gold edged up on Monday, having posted its biggest one-day gain in three weeks in the previous session, as the U.S. dollar lost ground and equities firmed on hopes of progress on Greece's debt crisis.

FUNDAMENTALS

* Spot gold added $1.40 to $1,539.80 an ounce by 0028 GMT after rising above $1,541 on Friday. Gold is still below a lifetime high around $1,575 touched in early May.

* Silver was steady at $36.00 an ounce, below a record at $49.51 an ounce in April.

* Euro zone finance ministers agreed on Monday that they would seek voluntary rollover of Greek debt by private bondholders to finance a substantial part of Greek funding needs in coming years.

* But euro zone finance ministers postponed a final decision on extending a further 12 billion euros ($17 billion) in emergency loans to Greece, saying Athens would first have to introduce harsh austerity measures.

MARKET NEWS

* The dollar index , which tracks the greenback's performance against a basket of major currencies, fell to around 75.128 from last week's peak of 76.016.

* The benchmark Nikkei average climbed 0.3 percent to 9,383.24 on Monday, while the broader Topix gained 0.3 percent to 807.88.

DATA EVENTS (GMT)

0800 - Euro zone current account data for April

1430 - ECB President Jean-Claude Trichet testifies Precious metals prices 0028 GMT

Metal Last Change Pct chg YTD pct chg Turnover Spot Gold 1539.80 1.40 +0.09 8.48 Spot Silver 36.00 0.20 +0.56 16.66 Spot Platinum 1750.65 0.00 +0.00 -0.95 Spot Palladium 740.20 0.00 +0.00 -7.42 TOCOM Gold 3979.00 15.00 +0.38 6.70 19898 TOCOM Platinum 4607.00 -15.00 -0.32 -1.90 7683 TOCOM Silver 92.90 1.40 +1.53 14.69 342 TOCOM Palladium 1942.00 -40.00 -2.02 -7.39 160 Euro/Dollar 1.4271 Dollar/Yen 80.18 TOCOM prices in yen per gram. Spot prices in $ per ounce.

(Reporting by Lewa Pardomuan; Editing by Clarence Fernandez)

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