PRECIOUS-Gold edges down, U.S. fiscal talks in focus
SINGAPORE, Dec 27 (Reuters) - Gold inched down on Thursday, giving up overnight gains in thin post-Christmas trade, with investors keeping a close eye on talks between the White House and Congress to prevent the U.S. economy from plunging into recession next year. FUNDAMENTALS * Spot gold had dropped $2.83 an ounce to $1,656.66 by 0025 GMT, but still off a 4-month low struck last week. * U.S. gold for February slipped $3.10 an ounce to $1,657.60. * In a sign that there may be a way through deadlock in Congress, Republican House of Representatives Speaker John Boehner urged the Democrat-controlled Senate to act to pull back from the so-called fiscal cliff and offered to at least consider any bill the upper chamber produced. * For the top stories on metals and other news, click , or MARKET NEWS * Asian shares were capped on Thursday on investor edginess about the chances of U.S. lawmakers striking a deal to avoid a fiscal crunch by Dec. 31, while the yen stayed under pressure on the prospect of drastic monetary easing and massive fiscal spending. * U.S. crude futures remained close to $91 a barrel on Thursday. DATA/EVENTS (GMT) 0500 Japan Construction orders yy Nov 2012 1330 U.S. Jobless claims Weekly 1500 U.S. New home sales Nov 2300 S.Korea Industrial output yy Nov 2012 2313 Japan Manufacturing PMI Dec 2012 2330 Japan CPI, core nationwide yy Nov 2012 2350 Japan Industrial output prelim mm Nov 2012 2350 Japan IP forecast 1 mth ahead Nov 2012 N/A Russia HSBC Mfg PMI Dec 2012 PRICES Precious metals prices 0025 GMT Metal Last Change Pct chg YTD pct chg Volume Spot Gold 1656.66 -2.83 -0.17 5.94 Spot Silver 29.99 0.02 +0.07 8.31 Spot Platinum 1533.92 0.87 +0.06 10.12 Spot Palladium 687.97 -1.54 -0.22 5.44 COMEX GOLD FEB3 1657.60 -3.10 -0.19 5.80 2331 COMEX SILVER MAR3 30.05 0.01 +0.03 7.63 149 Euro/Dollar 1.3232 Dollar/Yen 85.65 (Reporting by Lewa Pardomuan; Editing by Joseph Radford)
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.