February 12, 2013 / 1:00 AM / in 5 years

PRECIOUS-Gold near 1-month low, Tokyo pulls back from record

SINGAPORE, Feb 12 (Reuters) - Gold slipped on Tuesday,
trading near its weakest level in a month as the Lunar New Year
break in Asia curbed physical demand, while Tokyo bullion
futures softened after hitting a record high last week. 
       
    FUNDAMENTALS
    * Gold fell $2.05 an ounce to $1,645.60 by 0030 GMT,
not far from $1,643 marked on Monday, it weakest since Jan. 7.
Gold ended up around 7 percent in 2012 - the 12th straight year
of gains, making it one of the longest bull runs ever for a
commodity.
    *  U.S. gold was at $1,646.20 an ounce, down $2.90. 
 
    * Tokyo gold futures softened 28 yen to 5,002 yen a
gram with speculators taking profits from last week's rally to
an all-time high of 5,081 yen a gram. Trading was closed on
Monday for a holiday.
    * Markets reopened in Japan and South Korea, but Singapore,
Hong Kong, mainland China, Malaysia and Taiwan remained closed. 
    * Booming demand for gold as a store of wealth among Asian
investors is driving physical gold bars and coins out of the
United States and into Asia. 
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    MARKET NEWS
    * The yen hovered near fresh lows against the dollar and
Japanese stocks jumped on Tuesday after a U.S. official voiced
support for Japan's drive to beat deflation, assuaging fears
that criticism of its aggressive stance on monetary policy would
mount. 
    * Two G20 officials said separately the Group of Seven
nations are considering issuing a statement reaffirming their
commitment to "market-determined" exchange rates.
       
    
    DATA/EVENTS (GMT)
    0500  Japan Consumer confid. index  Jan 2013   JPCONI=ECI 
    1245  U.S. ICSC chain stores yy      Weekly     USUBSY=ECI 
    1900  U.S. Federal budget,$          Jan        USGDEF=ECI 
    2130  U.S. API weekly crude stocks   Weekly     USOIAC=ECI 
    2130  U.S. API weekly dist. stocks   Weekly     USOIAD=ECI 
    2130  U.S. API weekly gasoline stk   Weekly     USOIAG=ECI 
     N/A  India Industrial Output yy     Dec 2012     INIP=ECI 
       
    PRICES
       
  Precious metals prices 0030 GMT
  Metal             Last    Change  Pct chg  YTD pct chg    Volume
  Spot Gold        1645.60   -2.05   -0.12     -1.73
  Spot Silver        30.84   -0.05   -0.16      1.85
  Spot Platinum    1687.75    2.75   +0.16      9.95
  Spot Palladium    754.72   -1.28   -0.17      9.06
  COMEX GOLD APR3  1646.20   -2.90   -0.18     -1.77         2680
  COMEX SILVER MAR3  30.86   -0.05   -0.16      2.08          725
  Euro/Dollar       1.3399
  Dollar/Yen         94.18
 
  COMEX gold and silver contracts show the most active months
 
    
    
    
    

 (Reporting by Lewa Pardomuan; Editing by Edwina Gibbs)

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