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PRECIOUS-Gold extends gains on softer dollar, U.S. shutdown
October 8, 2013 / 12:41 AM / 4 years ago

PRECIOUS-Gold extends gains on softer dollar, U.S. shutdown

SINGAPORE, Oct 8 (Reuters) - Gold added to gains on Tuesday
after rising nearly 1 percent in the previous session as the
U.S. government shutdown entered its second week, moving closer
to a deadline to raise the national debt ceiling and sending the
dollar to near eight-month lows.
    * Spot gold rose 0.2 percent to $1,323.34 an ounce by
0014 GMT, after gaining 0.8 percent in the previous session.
Platinum jumped for a third day on fears mine strikes in
South Africa could hurt supply.
    * Glimmers of hope in the U.S. budget standoff surfaced on
Monday, with President Barack Obama saying he would accept a
short-term increase in the nation's borrowing authority to avoid
a default. 
    * The U.S. faces an Oct. 17 deadline to raise its $16.7
trillion borrowing limit. Failure to reach an agreement would
push it towards an unprecedented default and roil global
    * Gold importers in India, the world's biggest buyer of the
metal, started processing orders to re-stock ahead of the peak
wedding and festival season after the customs department cleared
remaining consignments at a major airport. 
    * South African labour union AMCU warned on Monday its
strike at Anglo American Platinum could be prolonged
and has the potential to spread to other major platinum
    * Broad commodity exchange-traded products returned to
favour in the third quarter, attracting some $712 million
according to BlackRock data. But money continued to flow out of
gold ETPs, which racked up $1.2 billion in outflows in
September, taking third-quarter redemptions to $4.4 billion.
    * Chinese markets open today after the National Day
    * For the top stories on metals and other news, click
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    * The dollar skidded to near an eight-month low, while U.S.
stocks fell on Monday, extending two weeks of losses.
    0145 China HSBC Services PMI 
    0600 Germany Trade balance 
    0645 France Trade balance 
    1000 Germany Industrial orders 
    1130 U.S. NFIB business optimism index 
    1145 U.S. ICSC weekly chain store sales 
    1400 U.S. IBD/TIPP consumer confidence 
  Precious metals prices 0014 GMT
  Metal             Last    Change  Pct chg  YTD pct chg    Volume
  Spot Gold        1323.34    2.05   +0.16    -20.97
  Spot Silver        22.31    0.00   +0.00    -26.32
  Spot Platinum    1395.50    3.20   +0.23     -9.09
  Spot Palladium    701.50    0.50   +0.07      1.37
  COMEX GOLD DEC3  1324.00   -1.10   -0.08    -20.99          948
  COMEX SILVER DEC3  22.35   -0.04   -0.16    -26.25          447
  Euro/Dollar       1.3580
  Dollar/Yen         96.74
  COMEX gold and silver contracts show the most active months
 (Reporting by A. Ananthalakshmi; Editing by Kenneth Maxwell)

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