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PRECIOUS-Gold little changed in China absence and stronger dollar
February 3, 2014 / 12:31 AM / 4 years ago

PRECIOUS-Gold little changed in China absence and stronger dollar

SINGAPORE, Feb 3 (Reuters) - Gold was little changed in
early Asian trading on Monday, after posting its first loss in
six weeks, as the strength in the U.S. dollar and the absence of
key buyer China weighed on prices. 
    * Spot gold was steady at $1,242.86 an ounce by 0016
GMT. Bullion fell 2 percent last week - its first loss since the
week ended Dec. 20. 
    * The dollar index recorded its best monthly gain in 8
months in January.  
    * Chinese markets are closed till Friday for the Lunar New
Year holiday. Hong Kong is shut on Monday.
    * Hedge funds and money managers raised their net long
positions in gold futures and options for a fifth consecutive
week, and slashed their long positions in silver in the week to
Jan. 28, data from the Commodity Futures Trading Commission
showed on Friday. 
    * Sales of the U.S. Mint's American Eagle gold coins fell 40
percent year-on-year in January, typically the busiest month of
the year, as uncertainty over bullion prices continued to dampen
interest from collectors. 
    * South African government mediators have put forward a
proposal designed to end a strike that has hit around 40 percent
of global platinum supply. 
    * For the top stories on metals and other news, click
, or 
    * Asian shares look set for another trying week as strains
in emerging markets show little sign of abating, while growing
pressure for another policy easing in Europe saw the euro hit
10-week lows. 
    0843 Italy Markit/ADACI Manufacturing PMI 
    0848 France Markit Manufacturing PMI 
    0853 Germany Markit/BME Manufacturing PMI 
    0858 Euro zone Markit Manufacturing PMI 
    1358 U.S. Final Markit Manufacturing PMI 
    1500 U.S. Construction spending 
    1500 U.S. ISM Manufacturing PMI 
    PRICES AT 0016 GMT      
 Metal             Last      Change    Pct chg
 Spot gold          1242.86     -0.33     -0.03
 Spot silver          19.06     -0.04     -0.21
 Spot platinum      1371.74     -3.01     -0.22
 Spot palladium      700.25     -0.75     -0.11
 Comex gold          1243.1       3.3      0.27
 Comex silver         19.08     -0.04     -0.21
 Euro                1.3482                    
 DXY                 81.303                    
 COMEX gold and silver contracts show the most
 active months
 (Reporting by A. Ananthalakshmi; Editing by Michael Perry)

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