SINGAPORE, Jan 23 Gold inched up on Wednesday,
holding near a one-month high hit in the previous session after
its appeal as an inflation hedge was bolstered when the Bank of
Japan announced aggressive monetary stimulus.
The BOJ said it would switch to an open-ended commitment to
buying assets next year and double its inflation target to 2
percent, its most determined effort yet to end years of economic
* Spot gold had inched up 0.1 percent to $1,693.85 an
ounce by 0033 GMT, on course for a third straight session of
gains. It hit a one-month high of $1695.76 in the previous
* U.S. gold was little changed at $1,694.
* Spot silver traded nearly flat at $32.22 an ounce,
after seven sessions of gains, matching a similar run in August
* Gold could see record average highs this year and next,
but its 12-year long bull run may be reaching a plateau as gains
get smaller on expectations for monetary policy to stabilise in
the United States and other key economies, a Reuters poll
* India raised import tax on gold ores and dore bars to 5
percent from 2 percent on Tuesday, a day after it hiked tax on
gold imports to 6 percent, as New Delhi tries to curb demand in
the world's biggest bullion importer and rein in a record
current account deficit.
* U.S. home resales unexpectedly fell in December, but the
drop was not large enough to suggest the recovery in the housing
sector is running out of steam.
* Positive signs emerged in the U.S. debt ceiling talks, as
the White House welcomed gestures by Republican leaders in the
House of Representatives that they aim to pass a nearly
four-month extension of the borrowing limit.
* For the top stories on metals and other news, click
* Bank and commodity shares led the benchmark Standard &
Poor's 500 Index to a fresh five-year closing high on Tuesday on
hopes that the global economy continues to mend.
* The yen held firm on Wednesday, having posted its biggest
one-day gain in around eight months on the greenback as
investors cut bearish bets on the currency following the Bank of
Japan's latest move to spur the economy.
1245 U.S. ICSC weekly chain store sales
1355 U.S. Redbook weekly retail sales
1400 U.S. FHFA home price index Nov
1500 Euro zone Consumer confidence Jan
1500 Canada BoC rate decision
Precious metals prices 0033 GMT
Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1693.85 2.25 +0.13 1.15
Spot Silver 32.22 0.03 +0.09 6.41
Spot Platinum 1692.25 -1.13 -0.07 10.24
Spot Palladium 725.75 1.75 +0.24 4.88
COMEX GOLD FEB3 1694.00 0.80 +0.05 1.09 2778
COMEX SILVER MAR3 32.25 0.07 +0.21 6.67 490
COMEX gold and silver contracts show the most active months
(Reporting by Rujun Shen; Editing by Joseph Radford)