SINGAPORE, June 27 Gold edged higher on Thursday
after a 12 percent slide since the beginning of last week, as
soft data on U.S. economic growth eased fears of a quick end to
the Federal Reserve's monetary stimulus.
* Spot gold rose 0.7 percent to $1,233.36 an ounce by
0012 GMT, after a 4 percent fall on Wednesday that took the
metal to $1,221.80, its lowest since August 2010. U.S. gold
rose about $4 to $1,233.40, also near 3-year lows.
* Bullion has been declining since last week after Federal
Reserve Chairman Ben Bernanke laid out a strategy to wind down
the bank's $85 billion monthly bond purchases in the next few
* However, data on Wednesday showed U.S. gross domestic
product expanded at a 1.8 percent annual rate in the quarter,
compared with the previously reported 2.4 percent pace, lending
a cautionary note on economic recovery.
* Gold is still down more than 26 percent for the year and
is headed for its worst quarterly performance since at least
* Gold is braced for more pain with chart patterns showing
the precious metal's latest fall exposing prices to deeper
* The price of silver is set post its biggest quarterly drop
on record after falling nearly a third since the end of March,
hit by the weaker price of gold and subdued industrial demand.
* ABN Amro was the latest to pare its gold price forecasts,
lowering its 2013 year-end gold forecast to $1,100 an ounce from
$1,300 and 2014 year-end price to $900 from $1,000.
* Gold premiums doubled in India on Wednesday as suppliers
struggled to meet demand after a ban on consignment imports, but
futures prices fell to their lowest in more than a month as
international gold prices fell due to a strong dollar.
* For the top stories on metals and other news, click
* The dollar index edged lower while Japan's Nikkei
opened up 1 percent.
0600 Germany Import prices
0645 France Consumer confidence
0755 Germany Unemployment rate
0800 Euro zone M3 money supply
0900 Euro zone Business climate
0900 Euro zone Economic sentiment
1230 U.S. Personal income
1230 U.S. Jobless claims
1230 U.S. Midwest manufacturing index
1400 U.S. Pending home sales
Precious metals prices 0012 GMT
Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1233.36 8.12 +0.66 -26.35
Spot Silver 18.64 0.18 +0.98 -38.44
Spot Platinum 1308.25 6.75 +0.52 -14.77
Spot Palladium 630.25 0.75 +0.12 -8.92
COMEX GOLD AUG3 1233.40 3.60 +0.29 -26.40 4077
COMEX SILVER JUL3 18.60 0.01 +0.07 -38.63
COMEX gold and silver contracts show the most active months
(Reporting by A. Ananthalakshmi; Editing by Richard Pullin)