Analysis Suggested Spot

(Reuters) - Gold held steady on Friday in listless trading as persistent concerns about the euro zone's finances and disappointing U.S. economic data put off most investors. Spot gold edged up 0.1 percent to $1,644.15 an ounce by 11:27 p.m. EDT, on course for a 0.9-percent weekly fall. U.S. gold inched up 0.2 percent to $1,645.10. Technical analysis suggested that spot gold could fall to $1,611.80 an ounce during the day, said Reuters market analyst Wang Tao. Economists believe Spain and Italy will not need international bailouts as they battle through their debt crises, but investors remained worried, as evident in the rising yields of the bonds Spain auctioned on Thursday. Gold has fallen more than 1 percent so far this month, in tandem with equities and other commodities, after ...

(Reuters) - Gold edged lower on Thursday, as investors stood on the sidelines and awaited a key Spanish debt auction later in the day amid worries the euro zone debt crisis could flare up again. Concerns about Spain's finances and banking sector pushed up safe-haven U.S. Treasuries and German Bunds in the previous session, and caution prevailed in most markets. Gold, though traditionally seen as a safe haven during times of economic and political turmoil, has moved largely in tandem with riskier assets and against the dollar recently. Spot gold inched down 0.1 percent to $1,639.46 an ounce by 2:27 a.m. EDT. U.S. gold was nearly flat at $1,640.50. "The upside is very heavy because the euro remains under pressure and the weak physical demand isn't helping," said Peter Fung, head of ...

(Reuters) - Gold edged down on Tuesday, tracking the euro's weakness as investors watched the Spanish debt market with renewed worries about the debt crisis in Europe, but safe-haven demand may lend support to bullion prices. Sentiment in the euro remained vulnerable ahead of a Spanish debt auction later in the day. Spain is set to see its borrowing costs leap when it sells short-term bonds after jitters over its deficit and banking sector pushed longer term risk premiums above 6 percent on Monday. Analysts said gold's safe-haven appeal may attract investors again if the situation in Europe worsens. "We expect that if European credit conditions continue to deteriorate, gold (along with the dollar) could start to better reflect the growing tensions by moving higher on its steam," said Ed ...

(Reuters) - Gold edged lower on Friday after weaker-than-expected first-quarter growth data from China prompted a modest rise in the dollar, but losses were capped as the slower growth fueled prospects for further monetary easing. The world's second-largest economy experienced a fifth consecutive quarter of slowing growth in the first three months of 2012, with gross domestic product expanding at a lower-than-expected 8.1 percent. The dollar index .DXY inched up 0.2 percent at the expense of commodity currencies that were disappointed at the China GDP figures, putting some pressure on dollar-priced commodities including gold. "The slowdown in China's economy dampened commodities as well as commodity currencies such as the Australian dollar," said Ronald Leung, a dealer at Lee Cheong ...

(Reuters) - Gold edged lower on Friday after weaker-than-expected first-quarter growth data from China prompted a modest rise in the dollar, but the losses were capped as the slower growth fuelled the prospects for further monetary easing. The world's second-largest economy experienced a fifth consecutive quarter of slowing growth in the first three months of 2012, with the gross domestic product reading at a lower-than-expected 8.1 percent. The dollar index .DXY inched up 0.2 percent at the expense of commodity currencies that were disappointed at the China GDP data, putting some pressure on dollar-priced commodities including gold. "The slowdown in China's economy dampened commodities as well as commodity currencies such as the Australian dollar," said Ronald Leung, a dealer at Lee ...

(Reuters) - Gold edged up on Tuesday in holiday-thinned trade on the back of a weaker dollar but remained in a tight range as investors awaited cues on the outlook of the U.S. economy and potential policy moves in the world's largest economy. Investors are looking for clues on policy direction from the minutes of the last U.S. Federal Reserve policy meeting, due on Tuesday, although Fed officials on Monday signaled little appetite for further monetary steps to stimulate U.S. growth in an economy that is gradually strengthening. U.S. factory orders due later in the day, as well as a key U.S. employment market report scheduled for release later in the week, are expected to provide some indication on the well-being of the U.S. economy and the necessity for further monetary easing. ...

(Reuters) - Gold prices was little changed on Friday and were set for their fourth-straight week of losses, after weak economic data from China and the euro zone sent bullion to a two-month low in the previous session. Surveys showed shrinking manufacturing activity in China and an unexpected turn for the worse in the euro zone economy in March, fanning worries of faltering growth in these regions. The traditional perception of gold as a so-called safe-haven asset has been shifting in recent months, with the economic crisis in Europe hurting demand for the metal. It has also been hit by U.S. Treasury yields climbing to multi-month highs and an increase in the cost of dollar funding. "It seems that funds have been trying to re-allocate their assets," said Peter Tse, director at ...

(Reuters) - Gold prices were little changed on Thursday, hovering around $1,650 an ounce, as investors weighed a recent improvement in the U.S. economy against the continuing shrinkage of Chinese manufacturing activities. Bullion prices have fallen more than 2 percent so far this month, after the U.S. Federal Reserve dashed hopes for further asset purchases in its latest policy statement and recent data showed the U.S. economic recovery was on track. But some economists said the global economy remains vulnerable this year, as the euro zone debt crisis faces the risk of resurgence, the U.S. recovery is still in a early stage and China faces slower growth. Economic uncertainties usually benefit gold as a safe haven asset, but a global crisis could easily cause a plunge in the precious ...

(Reuters) - Gold prices edged higher on Wednesday after dropping nearly 1 percent in the previous session, as a slightly weaker dollar came to the aid of buyers, while sluggish physical demand and an improving U.S. economic outlook capped gains. The latest U.S. housing market data added to a string of numbers indicating steady recovery in the world's largest economy, diminishing hopes of further quantitative easing which had helped buoy gold earlier this year. The dollar .DXY edged down 0.3 percent against a basket of currencies. A cheaper greenback makes dollar-priced commodities, including gold, more attractive to buyers holding other currencies. Spot gold edged up 0.3 percent to $1,655.14 an ounce by 0241 GMT (10.41 pm EDT). U.S. gold gained half a percent to $1,655.40. Some ...