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PRECIOUS-Gold flat as U.S. fiscal talks deadlock
December 4, 2012 / 12:40 AM / 5 years ago

PRECIOUS-Gold flat as U.S. fiscal talks deadlock

SINGAPORE, Dec 4 (Reuters) - Gold was little changed on
Tuesday, as the uncertainty in the U.S. budget talks kept
investors cautious, offsetting the upbeat sentiment after Greece
and Spain made some progress in solving their debt crisis.
    * Spot gold traded nearly flat at $1,715.14 an ounce
by 0031 GMT.
    * U.S. gold inched down 0.3 percent to $1,715.90.
    * Republicans proposed steep spending cuts on Monday but
gave no ground on President Barack Obama's call to raise taxes
on the wealthiest in their first formal proposal to avert a
"fiscal cliff" that could push the U.S. economy into recession.
    * Greece said it would spend 10 billion euros to buy back
bonds at a price range that topped market expectations, boosting
hopes it can cut its ballooning debt and unlock long-delayed
    * Spain on Monday made a formal request for an aid of 39.5
billion euros ($51.4 billion) of European funds to recapitalise
its crippled banking sector. 
    * Chinese manufacturing output grew last month for the first
time in more than a year but a surprise contraction in U.S.
factory activity tempered optimism about the health of the world
    * Holdings of SPDR Gold Trust, the world's largest
gold-backed exchange-traded fund, remained at a record high
level of 1,348.826 tonnes.
    * For the top stories on metals and other news, click
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    * U.S. stocks struggled to extend the previous week's gains,
dropping on Monday as disappointing U.S. factory numbers
dampened optimism about China's economic growth. 
    * The euro rose slightly in early Asian trading on Tuesday,
moving back towards a six-week high against the dollar and a
seven-month high against the yen marked a day earlier on upbeat
news from Spain and Greece. 

 0330 Australia    RBA cash rate           Dec                 
 1000 Euro zone    Producer prices         Oct                
 1100 Brazil       Industrial output       Oct                
 1245 U.S.         ICSC weekly chain store sales              
 1355 U.S.         Redbook weekly retail sales                
 1445 U.S.         ISM-New York index      Nov                 
     Precious metals prices 0031 GMT
  Metal             Last    Change  Pct chg  YTD pct chg    Volume
  Spot Gold        1715.14    0.29   +0.02      9.68
  Spot Silver        33.57   -0.04   -0.12     21.24
  Spot Platinum    1601.50    0.75   +0.05     14.97
  Spot Palladium    685.72   -0.08   -0.01      5.09
  COMEX GOLD DEC2  1715.90   -5.20   -0.30      9.52         1733
  COMEX SILVER MAR3  33.66   -0.10   -0.31     20.56          317
  Euro/Dollar       1.3050
  Dollar/Yen         82.15
  COMEX gold and silver contracts show the most active months 

 (Reporting by Rujun Shen; Editing by Eric Meijer)

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