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PRECIOUS-Gold steady on Ukraine tensions; awaits cues from Fed, US data
April 30, 2014 / 12:36 AM / in 4 years

PRECIOUS-Gold steady on Ukraine tensions; awaits cues from Fed, US data

SINGAPORE, April 30 (Reuters) - Gold was little changed on
Wednesday as investors awaited cues from the U.S. Federal
Reserve's policy statement and key economic data, even as
political tensions in Ukraine provided some safe-haven support. 
    
    FUNDAMENTALS
    * Spot gold was steady at $1,295.20 an ounce by 0024
GMT, after closing flat in the previous session. 
    * The Fed will make a statement later on Wednesday at the
end of its two-day policy meeting, with markets watching for the
U.S. central bank's stance on tighter monetary policy. Data on
private sector hiring and GDP growth is also expected.
    * Hundreds of pro-Moscow separatists stormed government
buildings in one of Ukraine's provincial capitals on Tuesday and
fired on police holed up in a regional headquarters, a major
escalation of their revolt despite new Western sanctions on
Russia.      
    * U.S. futures exchange CME Group Inc is considering
the introduction of daily limits on price moves in gold and
silver futures in a bid to rein in wild volatility that has
spooked investors in recent years, a CME official said.
 
    * Deutsche Bank has resigned its seat on the
London precious metal fixes without finding a buyer, a spokesman
said, leaving four banks to set the global gold price benchmark
under increasing regulatory scrutiny. 
    * A Chilean appeals court has rejected an attempt to halt
Goldcorp's El Morro copper and gold mine, clearing the
way for the project to go ahead, although indigenous communities
said they would appeal the ruling to the country's high court.
 
    * For the top stories on metals and other news, click
, or 
    
    MARKET NEWS
    * World stock indexes rose on solid company earnings on
Tuesday, while the euro slipped as weaker-than-expected German
inflation data kept alive chances of more stimulus from the
European Central Bank. 
    
    DATA/EVENTS
    1215 U.S. ADP national employment Apr 
    1230 U.S. GDP advance Q1 
    1230 U.S. GDP consumer spending advance Q1 
    1800 U.S. Fed's decision on interest rates 
    PRICES AT 0024 GMT
 Metal            Last     Change    Pct chg
                                            
 Spot gold         1295.2     -0.78    -0.06
 Spot silver        19.45     -0.02     -0.1
 Spot platinum    1421.99     -3.31    -0.23
 Spot palladium    803.13      0.63     0.08
 Comex gold        1295.2      -1.1    -0.08
 Comex silver       19.44    -0.048    -0.25
 Euro              1.3811                   
 DXY               79.797                   
                                            
 COMEX gold and silver contracts show the
 most active months
 
 
 (Reporting by A. Ananthalakshmi; Editing by Richard Pullin)

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