SINGAPORE, Oct 28 Gold was hovering near
five-week highs on Monday as traders bet the U.S. Federal
Reserve would stick with its bullion-friendly stimulus measures
at a policy meeting later this week.
* Spot gold had eased 0.3 percent to $1,348.44 an
ounce by 0010 GMT, after posting a near 3-percent gain the week
* Fed officials are unlikely to make any shift in monetary
policy this week and will continue to buy back bonds at an $85
billion monthly rate as they wait for more evidence of how badly
Washington's budget battle has hurt the U.S. economy.
* The central bank's policy-setting committee is to release
a statement on its decision on Wednesday, at the end of its
* Turkey and Kazakhstan raised their gold holdings in
September, while Russia's bullion reserves eased, according to
the International Monetary Fund.
* SPDR Gold Trust, the world's largest gold-backed
exchange-traded fund, said its holdings fell 4.50 tonnes to
872.02 tonnes on Friday.
* Hedge funds and money managers cut bullish bets in futures
and options of U.S. gold markets for the week ended Oct. 1, but
they increased their net longs in silver futures, a report by
the Commodity Futures Trading Commission showed.
* South Africa's hardline AMCU mining union threatened more
strikes at the world's top platinum producers, just weeks after
a deal to end an 11-day stoppage over job cuts.
* For the top stories on metals and other news, click
* Asian stocks got off to an encouraging start on Monday
after Wall Street closed at a record high.
0900 Italy Business confidence
1315 U.S. Industrial output
1400 U.S. Pending home sales
1430 U.S. Dallas Fed Texas manufacturing
Precious metals prices 0010 GMT
Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1348.44 -3.84 -0.28 -19.47
Spot Silver 22.53 0.03 +0.13 -25.59
Spot Platinum 1448.74 3.84 +0.27 -5.62
Spot Palladium 740.00 0.03 +0.00 6.94
COMEX GOLD DEC3 1349.00 -3.50 -0.26 -19.50 2895
COMEX SILVER DEC3 22.55 -0.09 -0.39 -25.59 417
COMEX gold and silver contracts show the most active months
(Reporting by A. Ananthalakshmi; Editing by Joseph Radford)