Aug
PRECIOUS-Gold rises more than 1 pct on safe-haven buying
Gold prices rose more than 1 percent on Thursday on safe-haven buying as oil prices climbed and the dollar weakened.
PRICES
* Spot gold <XAU=> was at $833.65/834.65 at 0708 GMT compared with $826.05/827.45 late in New York on Wednesday.
* Silver <XAG=> was at $13.68/13.74 from $13.49/13.55.
* Platinum <XPT=> at $1,439.5/1459.5 from $1,434.00/1,454.00
* Palladium <XPD=> at $289.5/287.5 from $288.50/296.50.
DATA RELEASES DUE
* U.S. Q2 preliminary GDP data due 1230 GMT.
* U.S. weekly jobless claims report due 1230 GMT
* Impala Platinum Holdings Ltd (Implats) <IMPJ.J>, the world’s No. 2 platinum producer, on Thursday posted a 57 percent rise in full-year headline earnings per share. [ID:nWEA7335]
MARKET NEWS
* The dollar slipped from a six-month high against the euro on Thursday after comments by European Central Bank officials the previous day scaled back speculation about an ECB rate cut.
[USD/]
* U.S. crude futures rose more than $1 to $119.25 a barrel in electronic trade on Thursday on fears Tropical Storm Gustav may hit the Gulf of Mexico, paralysing the heart of U.S. offshore production.
[O/R]
* European shares were set to open lower on Thursday as corporate results underlined worries about the financial sector and oil threatened to rise to the $120 mark [.EU]
FUNDAMENTALS
* Toyota Motor Corp <7203.T> said it would miss its goal of selling more than 10 million vehicles next year, cutting its forecast by nearly 7 percent due to a downturn in western markets driven by high fuel prices and a credit crunch. [ID:nT6192]
TECHNICALS
* Gold support at $807, resistance at $840, RSI 14 at 50.7.
* Silver support at $12.99, resistance at $14.00, RSI 14 at 40.5.
* Platinum support at $1,402, resistance at $1,483 RSI 14 at 43.1.
Source: http://www.afxnews.com
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