February 13, 2013 / 1:02 AM / 5 years ago

PRECIOUS-Gold off 1-mth low, palladium near 17-mth peak

SINGAPORE, Feb 13 (Reuters) - Gold was little changed on
Wednesday after falling to a 1-month low in the previous
session, with investors likely to watch currencies for
direction, while palladium held near its highest in 17 months as
supply concerns sparked speculative buying.
    * Spot gold was steady at $1,650.76 an ounce by 0040
GMT. U.S. gold was at $1,651.40 an ounce, up $1.80.   
    * Palladium added $2.22 an ounce to $771.22 after
rising to $772 on Tuesday, its highest since September 2011.
Sister metal platinum rose $10.50 an ounce to $1,723.99. 
    * PGMs have soared in value since the middle of last year
due to concerns about shrinking output blamed on mining
disruptions in South Africa and a drop in supply from Russia.
Expectations of robust automotive sales have also boosted
    * Zimbabwe's government told platinum producers on Tuesday
to start refining the metal locally within two years, placing a
further requirement on an industry already forced to surrender
majority shares to locals. 
    * Increased output by Russia could see it surpass the United
States as the world's third largest gold miner by 2015, Sergei
Kashuba, head of the Russian Gold Industrialists' Union, said on
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    * The euro hardly moved against the dollar, while the yen
held firm, having swung higher in dramatic style as investors
cut bearish positions after an official from the Group of Seven
said there were concerns about excessive movements in Japan's
    * Japan's Nikkei share average edged lower on Wednesday as a
pause in the yen's decline triggered profit-taking on stocks
that have gained sharply such as exporters. 
    0700 Germany Wholesale price index 
    1000 Euro zone Industrial production 
    1200 U.S. Weekly mortgage market index 
    1330 U.S. Import prices 
    1330 U.S. Export prices 
    1330 U.S. Retail sales 
    1500 U.S. Business inventories 
  Precious metals prices 0040 GMT
  Metal             Last    Change  Pct chg  YTD pct chg    Volume
  Spot Gold        1650.76    0.36   +0.02     -1.42
  Spot Silver        31.14    0.06   +0.19      2.84
  Spot Platinum    1723.99   10.50   +0.61     12.31
  Spot Palladium    771.22    2.22   +0.29     11.45
  COMEX GOLD APR3  1651.40    1.80   +0.11     -1.46         1540
  COMEX SILVER MAR3  31.16    0.14   +0.44      3.06          479
  Euro/Dollar       1.3446
  Dollar/Yen         93.36
  COMEX gold and silver contracts show the most active months

 (Reporting by Lewa Pardomuan; Editing by Richard Pullin)

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