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PRECIOUS-Gold near 4-month low, U.S. budget talks watched
December 21, 2012 / 1:01 AM / 5 years ago

PRECIOUS-Gold near 4-month low, U.S. budget talks watched

SINGAPORE, Dec 21 (Reuters) - Gold regained some footing on
Friday as the euro stayed near an eight-month high against the
dollar and talks to avoid a fiscal crisis in the United States
seemed to stall again, but the metal was still on track for its
fourth weekly fall.
    * Gold was little changed at $1,647.06 an ounce by
0045 GMT after falling to its weakest level since August in the
previous session on heavy liquidation by hedge funds and signs
of an improving U.S. economy.
   * U.S. gold for February rose $2.30 an ounce to 
    * The U.S. House of Representatives abruptly recessed on
Thursday amid uncertainty whether Republicans had the votes
needed to pass a "fiscal cliff" tax plan offered by Speaker John
     * Iraq made its first major move in years to bolster its
gold reserves in recent months, while Brazil increased its
holdings of bullion by almost a third in November, data from the
International Monetary Fund showed on Thursday. 
     * For the top stories on metals and other news, click
, or 
    * Despite the euro zone's own debt problems, the euro was on
track to end the year some 2 percent higher against the
greenback. It was at $1.3251, near an eight-month high
around $1.3309 set this week.  
    * Japan's Nikkei share average rose on Friday and may test a
nine-month high after Wall Street stocks climbed on hopes for
progress in U.S. fiscal talks, with exporters gaining on a
weaker yen. 
     * U.S. crude stayed above $90 a barrel after five days of
gains, though prices pulled back a touch on caution over U.S.
budget talks as Republicans in the U.S. Congress pushed ahead
with a plan that stands no chance of becoming law. 
 1330  U.S.  Durable goods orders  Weekly          
 1930  U.S.  CFTC commitment of traders data Weekly       
 N/A   Japan releases monthly economic report for Dec      
 0930  UK current account and final GDP reading for Q3  
 1330  U.S. Personal income/spending for November  
 1330  U.S. Durable goods for November  
 1530  U.S. ECRI weekly
  Precious metals prices 0045 GMT
  Metal             Last    Change  Pct chg  YTD pct chg    Volume
  Spot Gold        1647.06   -0.08   -0.00      5.32
  Spot Silver        29.97    0.03   +0.10      8.23
  Spot Platinum    1551.22    5.97   +0.39     11.36
  Spot Palladium    676.75   -0.50   -0.07      3.72
  COMEX GOLD FEB3  1648.20    2.30   +0.14      5.20         3101
  COMEX SILVER MAR3  30.01    0.33   +1.12      7.50          603
  Euro/Dollar       1.3224
  Dollar/Yen         84.35

 (Reporting by Lewa Pardomuan; Editing by Eric Meijer)

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