PRECIOUS-Factors To Watch on Jan 19

Wed Jan 19, 2011 2:49am EST

 LONDON, Jan 19 (Reuters) - Gold edged higher for a third
consecutive day on Wednesday, supported by a weak dollar and
physical demand out of Asia, while platinum hit a 30-month high,
buoyed by an improved economic outlook.
 For latest market report, see [GOL/]
 
 PRICES
  * Spot gold XAU= was bid at $1,374.48 at 0717 GMT from
$1,367.49 late in New York on Tueday.
 * Silver XAG= was at $29.16 from $28.84.
 * Platinum XPT= was at $1,840 from $1,823.50. Earlier it
touched $1,844, its highest since July 2008.
 * Palladium XPD= at $815.97 from $810.47.
 
 DATA/EVENTS
 * Euro zone current account for November; 0900 GMT
 * Euro zone net investment flow for November; 0900 GMT
 * UK labour market data; 0930 GMT
 * ICSC/Goldman Sachs weekly U.S. chain store sales; 1245 GMT
 * Redbook weekly U.S. retail sales;1355 GMT
  [ECI/US] [ECI/EURO] [ECI/GB] [M/DIARY] [MTL/DIARY]
 
 MARKET NEWS
 * The dollar slid to a two-month low against a basket of
currencies on Wednesday, as continued short-covering in the euro
helped spur a broad fall in the dollar. [USD/]
 * Asian stocks rose on Wednesday, taking a cue from Wall
Street gains and on hopes for more robust U.S. earnings, while
the euro edged back towards a one-month high hit the previous
day. [MKTS/GLOB]
 * U.S. crude rose above $91 a barrel on Wednesday, boosted
by a fall in the dollar to two-month lows, while Brent crude
ranged from steady to firmer after overnight gains. [O/R]
* European shares were set to edge up on Wednesday, tracking
gains on Wall Street and in Asia, as robust earnings overnight
from U.S. technology firms Apple (AAPL.O) and IBM (IBM.N)
reinforced hopes of a strong corporate reporting season. [.EU]
[MKTS/GLOB] [USD/] [O/R] [.N] [.EU]
 
 FUNDAMENTALS
 * Holdings in the world's largest silver-backed
exchange-traded fund, iShares Silver Trust (SLV), dropped 1.3
percent to 10,585.95 tonnes by Jan 18 from 10,725.73 tonnes on
Jan 11. [ID:nL3E7CJ006]
 * The world's largest gold-backed exchange-traded fund, SPDR
Gold Trust (GLD), said its holdings fell to 1,256.897 tonnes by
Jan 18 from 1,259.325 tonnes on Jan 14.[ID:nL3E7CJ005]
 * Gold and gold receivables held by euro zone central banks
fell 1 million euros to 367.431 billion euros in the week ending
Jan. 14, the European Central Bank said on Tuesday.
[ID:nFLAICE7HQ]
  
 TECHNICALS
 * Gold support at $1,350 an ounce, resistance at $1,432 an
ounce and 14-day RSI at 47.
 * Platinum support at $1,755 an ounce, resistance at $1,888
and 14-day RSI at 73.
 * Silver support at $28 an ounce, resistance at $32 and
14-day RSI at 51.
 
 For related news and prices, click on the codes in brackets:
Spot gold/silver  XAU= XAG=  Platinum/palladium XPT=XPD=
Gold lease rates         LGLR  Comex gold futures      <0#GC:>
Europe/Asia prices   <GOLD/EU1>  <GOLD/EU2>  <GOLD/ASIA1>
CBOT 100 oz gold futures <0#ZG:>
RELATED NEWS AND OTHER TOPICS
Precious metals news      [GOL]  All metals news           [MTL]
Metals summary     [GLANCE/MTL]  Index of summaries    [GLANCE/]
All commodities news        [C]  Metals diary        [MTL/DIARY]
Ldn Bullion Mkt Assoc  LBMA01 Foreign exchange rates   FX=S
SPEED GUIDES
COMMODS PRECIOUS1 <PRECIOUS/FUT1> <PRECIOUS/CASH1>
<PRECIOUS/SWAP1> <PRECIOUS/VOL1> REUTERS
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