April 29, 2011 / 12:45 AM / 9 years ago

PRECIOUS-Silver, gold near record; dollar wallows at 3-year low

 SINGAPORE, April 29 (Reuters) - Silver and gold were within sight of
historic highs on Friday and could resume an uptrend as the dollar held near
three-year lows against a basket of currencies on the Federal Reserve's
intention to keep interest rates near zero.	
     	
 FUNDAMENTALS	
 * Silver barely moved, standing at 48.28 an ounce by 0017 GMT, having
rallied to a record at $49.51 an ounce on Thursday. 	
 * Spot gold added 75 cents to $1,535.70 an ounce after hitting a
lifetime high around $1,538 an ounce in the previous session. 	
 * Soaring prices hurt the bottom line of certain manufacturers, including
photography company Eastman Kodak , which said on Thursday a hike in raw
material costs, particularly silver, led to a decrease in its film business 	
revenue. [ID:nN28229826]	
 * The dollar wallowed at three-year lows against a basket of currencies
early in Asia on Friday and remained on track for its biggest weekly fall in 14
weeks, though selling pressure eased as bears were already very short. 	
 	
 MARKET NEWS	
 * Tokyo stocks climbed 1.6 percent on Thursday to their highest since last's
month earthquake, helped by better-than-expected domestic earnings and 	
strength in U.S. shares after the Federal Reserve pledged to 	
hold short-term rates near zero. 	
 * U.S. crude oil futures rose on Thursday to hit a 31-month high settlement
after a volatile trading session that saw a weak dollar attract investors 	
seeking alternative assets. 	
       	
 DATA EVENTS (GMT)	
 1230  U.S.   Personal income mm             Oct          	
 1355  U.S.   U.Mich conditions final        Apr          	
 1355  U.S.   U.Mich expectation final       Apr          	
 1355  U.S.   U.Mich sentiment final         Apr          	
 1430  U.S.   ECRI index                     Weekly       	
  ::   U.S.   Dallas Fed PCE                 Mar          	
  	
 Precious metals prices 0017 GMT
 Metal             Last    Change   Pct chg  YTD pct chg  Turnover
 Spot Gold        1535.70    0.75   +0.05      8.19
 Spot Silver        48.28   -0.13   -0.27     56.45
 Spot Platinum    1836.74    1.64   +0.09      3.92
 Spot Palladium    782.00   10.77   +1.40     -2.19
 TOCOM Gold       4030.00    1.00   +0.02      8.07        17566
 TOCOM Platinum   4847.00   31.00   +0.64      3.22         1717
 TOCOM Silver      126.10   -0.30   -0.24     55.68         1879
 TOCOM Palladium  2021.00    5.00   +0.25     -3.62          154
 Euro/Dollar       1.4839
 Dollar/Yen         81.57
 TOCOM prices in yen per gram. Spot prices in $ per ounce.
  	
 	
 (Reporting by Lewa Pardomuan; Editing by Clarence Fernandez)	
 	
 	
 	
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