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PRECIOUS-Gold climbs, but stays near 3-week low
September 11, 2013 / 1:03 AM / 4 years ago

PRECIOUS-Gold climbs, but stays near 3-week low

SINGAPORE, Sept 11 (Reuters) - Gold climbed on Wednesday as
investors looked for bargains, but it stayed near its lowest
level in almost three weeks as hopes that a U.S. military strike
against Syria could be averted sapped its safe-haven appeal.
           
    FUNDAMENTALS
    * Gold had risen $1.41 to $1,365.00 an ounce by 0029
GMT. It dropped to $1,357.34 on Tuesday, its weakest since
August 22, after crude oil fell on easing geopolitical tensions
in the Middle East.
    * Bullion is also under pressure from expectations the U.S.
Federal Reserve will opt to taper its monetary stimulus
programme after the Fed's Open Market Committee meeting on Sept.
17-18.
    * U.S. gold was up $1.10 at $1,365.10 an ounce.   
    * Syria accepted a proposal to give up chemical weapons and
win a reprieve from U.S. military strikes, but serious
differences emerged between Russia and the United States that
could obstruct a U.N. resolution to seal a deal. 
    * For the top stories on metals and other news, click
, or 
    
    MARKET NEWS
    * The yen was soft while the euro and risk currencies held
firm on Wednesday on hopes a U.S. military strike against Syria
may be averted, as well as on signs of strength in the Chinese
economy. 
    * Japan's benchmark Nikkei average opened up 0.61
percent at 14,511.74 on Wednesday, while the broader Topix
 gained 0.74 percent to 1,199.03.  
    * Oil prices on both sides of the Atlantic fell by more than
$2 a barrel on Tuesday. 
        
    DATA/EVENTS (GMT)
    1100 U.S. Weekly mortgage market index 
    1400 U.S. Wholesale inventories 
         
    PRICES
    
  Precious metals prices 0029 GMT
  Metal             Last    Change  Pct chg  YTD pct chg    Volume
  Spot Gold        1365.00    1.41   +0.10    -18.49
  Spot Silver        23.05    0.11   +0.48    -23.88
  Spot Platinum    1471.74    4.14   +0.28     -4.12
  Spot Palladium    693.22    1.71   +0.25      0.18
  COMEX GOLD DEC3  1365.10    1.10   +0.08    -18.54         1963
  COMEX SILVER DEC3  23.09    0.07   +0.32    -23.81          603
  Euro/Dollar       1.3273
  Dollar/Yen        100.26
 
  COMEX gold and silver contracts show the most active months
 
    
    
    
    

 (Reporting by Lewa Pardomuan; Editing by Joseph Radford)

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