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PRECIOUS-Gold ticks lower as equities gain, ETFs plunge
May 7, 2013 / 12:46 AM / in 4 years

PRECIOUS-Gold ticks lower as equities gain, ETFs plunge

SINGAPORE, May 7 (Reuters) - Gold eased on Tuesday, losing
its shine as an alternative investment as stock markets rallied
and as holdings on bullion exchange-traded funds slipped to
their lowest in more than three years.
    * Gold eased $1.25 an ounce to $1,467.64 by 0031 GMT.
It hit a near three-week high of $1,487.80 on Friday on
safe-haven buying spurred by a cut in interest rates by the
European Central Bank and the Fed's decision to stick to its
stimulus programme.
    * U.S. gold was little changed at $1,467.50 an
    * SPDR Gold Trust, the world's largest gold-backed
exchange-traded fund, said its holdings fell 0.31 percent to
1062.30 tonnes on Monday -- the lowest since August 2009. In
terms of ounces, holdings fell to 34,153,901.
    * Indian gold futures extended gains on Monday, helped by a
weaker rupee and firm overseas markets, driving away importers
seeking to stock up for a big festival next week. 
    * For the top stories on metals and other news, click
, or 
    * Asian shares inched higher on Tuesday after the Standard &
Poor's 500 Index closed at a record high overnight on
renewed hopes for a steady U.S. recovery, but weak global growth
data kept investors wary of pushing prices sharply higher.
    * The euro struggled to gain any momentum in early Asian
trade on Tuesday, while the Australian dollar nursed losses as
bears bet on the prospect of a cut in interest rates later in
the session. 
    0645 France Industrial output 
    0645 France Trade data 
    1000 Germany Industrial orders 
    1145 U.S. ICSC weekly chain store sales 
    1400 U.S. IBD/TIPP consumer confidence 
    1900 U.S. Consumer credit 
  Precious metals prices 0031 GMT
  Metal             Last    Change  Pct chg  YTD pct chg    Volume
  Spot Gold        1467.64   -1.25   -0.09    -12.36
  Spot Silver        23.96   -0.02   -0.08    -20.87
  Spot Platinum    1494.99   -7.51   -0.50     -2.61
  Spot Palladium    692.22    0.72   +0.10      0.03
  COMEX GOLD JUN3  1467.50   -0.50   -0.03    -12.43         2561
  COMEX SILVER JUL3  23.95    0.00   -0.02    -20.77          379
  Euro/Dollar       1.3071
  Dollar/Yen         99.29
  COMEX gold and silver contracts show the most active months
 (Reporting by Lewa Pardomuan; Editing by Richard Pullin)

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