January 28, 2014 / 12:30 AM / 5 years ago

PRECIOUS-Gold steady ahead of Fed; stimulus outlook in focus

SINGAPORE, Jan 28 (Reuters) - Gold was steady on Tuesday
after a sharp slide the session before, with investors worried
the U.S. Federal Reserve could make further stimulus cuts at a
meeting this week.
    * Spot gold had risen 0.03 percent to $1,256.79 an
ounce by 0013 GMT, after dropping 1 percent on Monday and
retreating sharply from a two-month high. 
    * The U.S. central bank begins its two-day policy meeting on
Tuesday, with a statement expected on Wednesday. 
    * An improving economy prompted the Fed to cut its
bond-buying stimulus by $10 billion last month, and the bank is
widely expected to reduce by the same amount at this week's
    * The lifting of the stimulus measures would dim gold's
appeal as an inflation-hedge.
    * China's 2013 gold imports from Hong Kong more than doubled
from the previous year to reach a record of more than 1,000 
tonnes as a sharp fall in prices led to unprecedented demand.
    * Platinum rose as government-brokered talks between
South Africa's AMCU union and the world's top three platinum
producers ended on Monday with no breakthrough in efforts to end
a strike that has hit half of global output of the precious
    * For the top stories on metals and other news, click
, or 
    * Asian shares were pinned near five-month lows on Tuesday
as turmoil in emerging markets and concerns about an economic
slowdown in China took their toll. 
    0700 Germany import prices 
    0745 France consumer confidence 
    0900 Italy consumer confidence 
    1330 U.S. durable goods orders 
    1400 U.S. Case-Shiller home price index 
    1500 U.S. consumer confidence 
    1500 U.S. Richmond Fed composite index 
    Federal Reserve starts two-day policy meeting

    PRICES AT 0013 GMT     
 Metal             Last       Change    Pct chg
 Spot gold           1256.79      0.35        0.03
 Spot silver           19.66     -0.02        -0.1
 Spot platinum       1412.75      5.75        0.41
 Spot palladium        719.5      -0.5       -0.07
 Comex gold           1257.1      -6.3        -0.5
 Comex silver          19.69    -0.103       -0.52
 COMEX gold and silver contracts show the most
 active months
 (Reporting by A. Ananthalakshmi; Editing by Joseph Radford)
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below