SINGAPORE, Feb 8 Gold fell further on Friday as
the euro weakened on renewed concerns over the health of the
euro zone economy, while investors eyed China trade data for
more trading cues.
China's economic rebound should show signs of strengthening
when the first hard economic numbers of the year are released,
although distortions caused by the Lunar New Year holiday will
make it difficult to gauge momentum.
* Gold fell $2.25 an ounce to $1,668.44 by 0050 GMT,
but prices were still headed a slight gain this week -- its
second straight weekly rise. U.S. gold futures were at
$1,669.50 an ounce, down $1.80 .
* Platinum and palladium extended losses,
having rallied to their highest level since September 2011
earlier this week on hopes of a better economic outlook.
* The European Central Bank will monitor the economic impact
of a strengthening euro, ECB President Mario Draghi said on
Thursday, feeding expectations the climbing currency could open
the door to an interest rate cut.
* Draghi said the economic weakness in the euro zone was
expected to prevail in the early part of 2013 but that later in
the year, activity should gradually recover.
* China's gold production rose for a sixth consecutive year
and hit a record 403 tonnes in 2012, keeping its ranking as the
world's largest bullion producer, the Shanghai Securities News
said on Thursday.
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* The euro hovered near two-week low on Friday after the ECB
chief said he would monitor the impact of the currency's
strength, making more straightforward remarks on the exchange
rate than many had expected.
* U.S. crude steadied under $96 per barrel, weighed by
higher domestic supplies, which may be aggravated by the
possible delayed restart of BP's Indiana refinery.
N/A China Exports
N/A China Imports
N/A China Trade balance
0530 China CPI
0530 China PPI
0700 Germany Trade balance
0900 Italy Industrial output
1330 U.S. International trade
1930 U.S. CFTC commitment of traders data
Precious metals prices 0050 GMT
Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1668.44 -2.25 -0.13 -0.36
Spot Silver 31.39 -0.05 -0.16 3.67
Spot Platinum 1705.24 -10.50 -0.61 11.09
Spot Palladium 743.25 -4.72 -0.63 7.41
COMEX GOLD APR3 1669.50 -1.80 -0.11 -0.38 3630
COMEX SILVER MAR3 31.42 0.02 +0.05 3.94 954
COMEX gold and silver contracts show the most active months
(Reporting by Lewa Pardomuan; Editing by Himani Sarkar)