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PRECIOUS-Gold edges down, investors cautious ahead of Fed
May 1, 2013 / 1:06 AM / 4 years ago

PRECIOUS-Gold edges down, investors cautious ahead of Fed

SINGAPORE, May 1 (Reuters) - Gold inched down on Wednesday,
with investors cautious as they wait to see if the U.S. Federal
Reserve sticks to its bullion-friendly monetary policy later in
the day.
    * Spot gold had fallen $2.81 an ounce to $1,473.79 by
0034 GMT.    
     * U.S. gold stood at $1,473.90 an ounce, up $1.80. 
     * The Fed's policy-making committee ends its two-day
meeting on Wednesday with a statement that some believe could
sound relatively dovish in response to recent weak economic
    * Fears that central banks' money-printing to buy assets
will stoke inflation have been a key driver in boosting gold,
which rallied to an 11-month high in October last year after the
Fed announced its third round of aggressive economic stimulus.
    * SPDR Gold Trust, the world's largest gold-backed
exchange-traded fund, said its holdings fell 0.19 percent to
1078.54 tonnes on Tuesday, their lowest since September 2009.
    * For the top stories on metals and other news, click
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    * The dollar was pressured on Wednesday ahead of the outcome
of the Fed policy meeting, while the euro drifted on
expectations for a rate cut when the European Central Bank meets
later in the week. 
    * Japan's Nikkei average slipped in early trade on
Wednesday, after posting its best April performance in 20 years,
hurt by disappointing earnings guidance from semiconductor
equipment maker Tokyo Electron Ltd 8035.T. 
 0100  China   Official manufacturing PMI                     
 1215  U.S.    ADP employment report                          
 1400  U.S.    Construction spending                          
 1400  U.S.    ISM manufacturing PMI                          
 1800  Federal Reserve's FOMC announces policy decision
  Precious metals prices 0034 GMT
  Metal             Last    Change  Pct chg  YTD pct chg    Volume
  Spot Gold        1473.79   -2.81   -0.19    -11.99
  Spot Silver        24.24   -0.04   -0.16    -19.95
  Spot Platinum    1501.74   -1.76   -0.12     -2.17
  Spot Palladium    695.47    0.47   +0.07      0.50
  COMEX GOLD JUN3  1473.90    1.80   +0.12    -12.05         2582
  COMEX SILVER MAY3  24.26    0.12   +0.48    -19.75           9
  Euro/Dollar       1.3174
  Dollar/Yen         97.15

 (Reporting by Lewa Pardomuan; Editing by Joseph Radford)

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