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PRECIOUS-Gold headed for biggest weekly loss since early Nov
November 30, 2012 / 12:45 AM / in 5 years

PRECIOUS-Gold headed for biggest weekly loss since early Nov

SINGAPORE, Nov 30 (Reuters) - Gold traded flat on Friday as
uncertainty surrounding the U.S. budget talks kept sentiment
muted, while bullion was on track for a 1.6-percent weekly
decline - its biggest in four weeks. 
    * Spot gold traded little changed at $1,724.56 an
ounce by 0027 GMT, headed for a 0.3 percent monthly rise.
    * U.S. gold inched down 0.1 percent to $1,724.90.
    * House of Representatives Speaker John Boehner said on
Thursday that "fiscal cliff" talks with the White House had made
no substantive progress and criticized President Barack Obama
and Democrats for failing to get serious about including
spending cuts in a final deal. 
    * Norilsk Nickel, the world's largest producer of palladium
and nickel, expects the palladium market to remain in a deficit
in the next several years largely due to a near depletion of
Russian state supplies. 
    * Silver prices could revisit record highs next year, but
any gains will depend heavily on a rally in gold fuelling
investment as silver struggles to overcome a soft outlook for
supply and demand, metals consultancy GFMS said on Thursday.
    * Hong Kong-based Chow Tai Fook Jewellery Group Ltd
, the world's biggest jewellery retailer by market
value, said on Thursday it is targeting e-commerce as a pillar
of future growth after online sales tripled in the first half.
    * Shanghai Gold Exchange said it will start a trial run of
over-the-counter gold trading on the China Foreign Exchange
Trading System on Dec. 3, allowing banks to trade amongst
themselves and in large volumes. 
    * For the top stories on metals and other news, click
, or 
    * U.S. stocks finished higher on Thursday as investors
bought on sporadic dips in a market roiled by conflicting
comments from Washington about negotiations on an agreement to
avoid the "fiscal cliff." 
    * The euro traded little changed on Friday, after retreating
from a one-month high against the dollar in the previous session
after Boehner dented hopes for a budget deal. 
 0500 Japan      Construction orders Oct                     
 0530 India      GDP Q2                                      
 0700 Germany    Retail sales Oct                            
 0745 France     Consumer spending Oct                       
 0900 Italy      Unemployment rate Oct                       
 1000 Euro zone  Inflation Nov                               
 1100 Brazil     GDP Q3                                      
 1445 U.S.       Chicago PMI Nov                             
 1930 U.S.       CFTC commitment of traders data            
 Precious metals prices 0027 GMT
  Metal             Last    Change  Pct chg  YTD pct chg    Volume
  Spot Gold        1724.56   -0.23   -0.01     10.28
  Spot Silver        34.17   -0.04   -0.12     23.40
  Spot Platinum    1606.00   -2.49   -0.15     15.29
  Spot Palladium    678.90   -2.82   -0.41      4.05
  COMEX GOLD DEC2  1724.90   -2.30   -0.13     10.09           30
  COMEX SILVER DEC2  34.19   -0.16   -0.46     22.48           40
  Euro/Dollar       1.2971
  Dollar/Yen         82.04
  COMEX gold and silver contracts show the most active months
 (Reporting by Rujun Shen; Editing by Himani Sarkar)

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