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PRECIOUS-Gold eases after modest gains subside; ETFs weigh
April 30, 2013 / 12:35 AM / in 5 years

PRECIOUS-Gold eases after modest gains subside; ETFs weigh

SINGAPORE, April 30 (Reuters) - Gold slipped back into
negative territory on Tuesday after bargain hunting tapered off,
while daily outflows from  exchange-traded funds highlighted
investors' lack of confidence in the precious metal.
    * Gold eased $3.08 an ounce to $1,472.71 by 0019 GMT.
It had gained slightly on Monday on expectations the Federal
Reserve will keep its bond buying at $85 billion a month for now
following weaker-than-expected U.S. growth.
     * U.S. gold was at $1,472.50 an ounce, up $5.10.   
      * Both cash gold and futures sank to around $1,321 on
April 16, their lowest in more than two years, after a drop
below $1,500 led to a sell-off that prompted investors to slash
holdings of exchange-traded funds
     * SPDR Gold Trust, the world's largest gold-backed
exchange-traded fund, said its holdings fell 0.22 percent to
1,080.64 tonnes on Monday from 1,083.05 tonnes on Friday.
    * Newmont Mining Corp, the largest U.S.-based gold
miner, reported a sharper-than-expected drop in first-quarter
profit on Monday, as gold and copper shipments fell more than 10
percent and realized prices for the metals slid. 
    * For the top stories on metals and other news, click
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    * The dollar wallowed at 1-1/2 week lows against a basket of
currencies in early Asian trade on Tuesday as declining bond
yields and slowing inflation put pressure on the Federal Reserve
for more action. 
    * The Nikkei stock average dipped in early trade on Tuesday,
although it is heading for its best April performance in 20
years after the Bank of Japan stunned financial markets earlier
this month with sweeping stimulus measures. 
    * The S&P 500 index ended at an all-time high on Monday as
growth-oriented stocks, including energy and technology, lead
the way to the index's sixth rise in the past seven sessions.
    0600 Germany GfK consumer sentiment 
    0600 Germany Retail sales 
    0645 France Consumer spending 
    0755 Germany Unemployment 
    0800 Italy Unemployment 
    0900 Euro zone Inflation 
    0900 Euro zone Unemployment 
    1145 U.S. ICSC chain store sales 
    1300 U.S. Case-Shiller home price index 
    1345 U.S. Chicago PMI 
    1400 U.S. Consumer confidence 
    1500 U.S. ISM Semiannual economic forecast 
    N/A Federal Reserve's FOMC starts two-day policy meeting
  Precious metals prices 0019 GMT
  Metal             Last    Change  Pct chg  YTD pct chg    Volume
  Spot Gold        1472.71   -3.08   -0.21    -12.05
  Spot Silver        24.42   -0.09   -0.37    -19.35
  Spot Platinum    1504.74   -1.26   -0.08     -1.97
  Spot Palladium    699.60    3.10   +0.45      1.10
  COMEX GOLD JUN3  1472.50    5.10   +0.35    -12.13         2160
  COMEX SILVER MAY3  24.40    0.27   +1.13    -19.30          143
  Euro/Dollar       1.3094
  Dollar/Yen         97.86

 (Reporting by Lewa Pardomuan; Editing by Ed Davies)

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