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PRECIOUS-Gold holds steady after S&P warning on Greece

Published 07/04/2011, 08:53 PM
Updated 07/04/2011, 08:56 PM
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SINGAPORE, July 5 (Reuters) - Spot gold held steady on Tuesday, after a warning by ratings agency Standard & Poor's that it would treat plans for a rollover of privately-held Greek debt as a selective default, underpinning safe haven demand for bullion.

FUNDAMENTALS

* Spot gold rose 0.09 percent to $1,496.84 an ounce by 0038 GMT.

* U.S. gold gained 1 percent to $1,497.60.

* Rating agency S&P warned Greece would likely be in default if it follows a debt rollover plan pushed by French banks.

* The euro hovered near one-month highs versus the dollar, shrugging off S&P's warning on Greece, as expectations that the European Central Bank will raise interest rates on Thursday helped buoy the single currency.

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

MARKET NEWS

* The dollar index gained slightly on Tuesday, but remained near one-month lows.

* U.S. crude futures edged up on Tuesday to remain above $95 a barrel, ahead of U.S. factory orders data gauging the strength of the world's top economy and oil consumer.

DATA/EVENTS 0430 Australia RBA cash rate Jul 0758 EZ Markit Services PMI Jun 1400 U.S. Factory orders May 1400 U.S. Durable goods May-R

PRICES Precious metals prices 0038 GMT Metal Last Change Pct chg YTD pct chg Volume Spot Gold 1496.84 1.30 +0.09 5.45 Spot Silver 34.10 0.02 +0.06 10.50 Spot Platinum 1720.50 1.95 +0.11 -2.66 Spot Palladium 758.97 1.52 +0.20 -5.07 TOCOM Gold 3901.00 12.00 +0.31 4.61 11105 TOCOM Platinum 4516.00 -2.00 -0.04 -3.83 2453 TOCOM Silver 88.70 0.30 +0.34 9.51 107 TOCOM Palladium 1986.00 -5.00 -0.25 -5.29 109 COMEX GOLD AUG1 1497.60 15.00 +1.01 5.36 21524 COMEX SILVER SEP1 34.14 0.44 +1.29 10.34 5635 Euro/Dollar 1.4520 Dollar/Yen 80.85 TOCOM prices in yen per gram. Spot prices in $ per ounce. COMEX gold and silver contracts show the most active months

(Reporting by Rujun Shen; Editing by Ed Lane)

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