November 13, 2013 / 12:35 AM / 4 years ago

PRECIOUS-Gold near 4-wk low, investors jittery over US stimulus

SINGAPORE, Nov 13 (Reuters) - Gold was trading near a
four-week trough on Wednesday and looked likely to test further
lows as mixed signals from Federal Reserve officials added to
uncertainty over the fate of the U.S. central bank's stimulus
measures.
    
    FUNDAMENTALS
    * Spot gold had eased 0.1 percent to $1,266.26 an
ounce by 0016 GMT, after falling about 1 percent in the previous
session to $1,260.89 - its lowest since Oct. 15.
    * Silver declined 0.2 percent after dropping 3
percent the session before to a four-week low. 
    * The Fed should keep monetary policy ultra-easy given the
economy's tepid growth and an uncertain outlook for jobs growth,
two senior officials said on Tuesday. However, one of them said
he would not rule out tapering in December. 
    * The Fed's $85-billion in monthly bond purchases has in
recent years been a key driver for gold - seen as an
inflation-hedge. With improving economic data, the Fed has said
it would begin tapering the purchases but the exact timing is
yet to be determined.
    * The platinum market in 2013 is set for its biggest deficit
in 14 years and continuing strong industrial and jewellery
demand may widen the gap next year, although higher supply,
stock overhangs and slow autocatalyst demand could limit price
gains, according to refiner Johnson Matthey. 
    * The U.S. Mint's American Eagle silver coin sales rose on
Tuesday, bringing this year's total to the programme's record
high, highlighting retail investors' strong appetite for silver
physical products. 
    * For the top stories on metals and other news, click
, or 
    
    MARKET NEWS
    * Asian shares sagged and the dollar stuck close to a
two-month high against the yen in early trade on Wednesday.
 
        
    DATA/EVENTS (GMT)
    1000 Euro zone industrial production 
    1130 India M3 money supply 
    1200 U.S. weekly mortgage market index 
    1900 U.S. Federal budget 
   
    PRICES AT 0016 GMT
 Metal               Last        Change    Pct chg  YTD pct chg
                                                                
 Spot gold              1266.26     -1.35    -0.11        -24.38
 Spot silver              20.65     -0.03    -0.15         -31.8
 Spot platinum          1424.24     -5.51    -0.39         -7.22
 Spot palladium          735.97      -1.5     -0.2          6.35
 Comex gold Dec3         1265.6      -5.6    -0.44        -24.48
 Comex silver Dec3        20.67    -0.108    -0.52         -31.8
 Euro                    1.3439                                 
 DXY                     81.135                                 
                                                                
 COMEX gold and silver contracts show the most active months
 
 (Reporting by A. Ananthalakshmi; Editing by Joseph Radford)

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