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PRECIOUS-Gold edges up, on track for 12th annual gain
December 31, 2012 / 12:25 AM / in 5 years

PRECIOUS-Gold edges up, on track for 12th annual gain

SINGAPORE, Dec 31 (Reuters) - Gold ticked up after the euro
firmed against the dollar, but wary investors stayed on the
sidelines as last-ditch attempts by U.S. lawmakers to resolve a
fiscal crisis seemed to be getting nowhere.
      
    FUNDAMENTALS
    * Gold added $1.25 an ounce to $1,656.64 by 0004 GMT.
    
Gold is up around 6 percent for the year and is on track for a
12th straight year of gains on rock-bottom interest rates,
concerns over the financial stability of the euro zone, and
diversification into bullion by central banks.
    * U.S. gold for February rose $1.70 to $1,657.60 an
ounce.       
    * Efforts to prevent the U.S. economy from tumbling over a
"fiscal cliff" stalled on Sunday as Democrats and Republicans
remained at loggerheads over a deal that would prevent taxes for
all Americans from rising on New Year's Day. 
    * For the top stories on metals and other news, click
, or 
    
    MARKET NEWS
     * The euro inched up 0.14 percent to 1.323 on
Monday. An agreement on the U.S. budget would be viewed as
positive for riskier currencies such as the euro and Australian
dollar, while a deadlock is deemed positive for the safe-haven
and highly liquid dollar. 
    * U.S. crude futures slipped on Monday for a third straight
session on worries that the United States might not reach a
budget deal by Jan. 1 to prevent a fiscal crisis that could
erode fuel demand at the world's largest oil consumer. 
    * Equity futures were slightly higher at the beginning of
electronic trading on Sunday night as budget talks continued in
Washington. 
    
       
    DATA/EVENTS (GMT) 
    0145  China   HSBC Mfg PMI Final              Dec 2012   
    1530 - Dallas Fed Texas manufacturing index for December 
        
    PRICES
        
  Precious metals prices 0004 GMT
  Metal             Last    Change  Pct chg  YTD pct chg   Volume
  Spot Gold        1656.64    1.25   +0.08      5.94
  Spot Silver        30.05    0.06   +0.20      8.52
  Spot Platinum    1521.14  -13.86   -0.90      9.20
  Spot Palladium    694.50    2.50   +0.36      6.44
  COMEX GOLD FEB3  1657.60    1.70   +0.10      5.80          722
  COMEX SILVER MAR3  30.10    0.13   +0.42      7.83          171
  Euro/Dollar       1.3230
  Dollar/Yen         85.98
 
 (Reporting by Lewa Pardomuan; Editing by Paul Tait)

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