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PRECIOUS-Platinum eases from 2-month high; gold steady
August 21, 2012 / 12:46 AM / 5 years ago

PRECIOUS-Platinum eases from 2-month high; gold steady

SINGAPORE, Aug 21 (Reuters) - Platinum edged down on
Tuesday, recoiling from a two-month high hit in the previous
session on heightened supply worries in top producer South
Africa, while the uncertainty over European Central Bank's
policy action kept sentiment for gold muted.
    
    FUNDAMENTALS
    * Spot gold was little changed at $1,619.46 an ounce
by 0029 GMT.
    * U.S. gold futures contract for December delivery 
traded nearly flat at $1,621.80.
    * Spot platinum inched down 0.2 percent to $1,483,
off a two-month high of $1,492.99 in the previous session.
    * About a third of the workforce returned to South Africa's
Marikana platinum mine after violent clashes killed 44 last
week. 
    * The European Central Bank on Monday sought to quash
speculation about the shape its planned bond-buying programme
will take, saying that it is misleading to talk about decisions
not yet taken. 
    * A Greek exit from the euro zone would be manageable, ECB
policymaker Joerg Asmussen was quoted on Monday as saying,
although he would prefer it if the crisis-stricken country
remained within the single currency bloc. 
    * Russia's central bank raised its gold reserves by around
0.6 million troy ounces in July, taking its total holdings to
30.1 million ounces, or 853.3 tonnes, the bank said on its
website on Monday. 
    * For the top stories on metals and other news, click
, or 
    
    MARKET NEWS
    * U.S. stocks were flat on Monday on signs of fatigue after
a six-week run of gains as the European Central Bank quelled
speculation about the form of market intervention that may be
taken to stem the region's debt crisis. 
    * The euro traded little changed against the dollar on
Tuesday, as uncertainty about the scope of possible ECB action
to contain the region's debt crisis had investors refraining
from making large bets. 
    
    DATA/EVENTS
 1145  U.S.      ICSC chain stores yy      Weekly                 
 2350  Japan     Exports yy                Jul                    
        
    PRICES
    Precious metals prices 0029 GMT
  Metal             Last    Change  Pct chg  YTD pct chg    Volume
  Spot Gold        1619.46   -0.63   -0.04      3.56
  Spot Silver        28.69   -0.08   -0.28      3.61
  Spot Platinum    1483.00   -2.20   -0.15      6.46
  Spot Palladium    602.70   -0.80   -0.13     -7.63
  COMEX GOLD DEC2  1621.80   -1.20   -0.07      3.51         1352
  COMEX SILVER SEP2  28.65    0.06   +0.20      2.63          683
  Euro/Dollar       1.2352
  Dollar/Yen         79.34
  COMEX gold and silver contracts show the most active months
  

 (Reporting by Rujun Shen; Editing by Ed Davies)

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