By Melanie Burton
MELBOURNE, Nov 19 (Reuters) - Gold prices revived on
Thursday from more than five year lows hit in the previous
session, as the dollar fell back, releasing its stranglehold on
commodities and making gold more affordable for buyers paying
with other currencies.
FUNDAMENTALS
* Spot gold XAU= traded up 0.3 percent to $1,073.61 an
ounce by 0020 GMT. Prices fell to 1,064.95 an ounce on
Wednesday, the weakest since Feb 2010.
* U.S. gold GCcv1 up 0.4 percent to $1,073 an ounce.
* Federal Reserve officials on Wednesday continued to flag
December as a likely time for interest rates to rise after seven
years near zero, with two expressing confidence they will be
able to pull off a rate hike smoothly despite fears of an abrupt
market reaction. urn:newsml:reuters.com:*:nL1N13D20B
* U.S. housing starts in October fell to a seven-month low,
weighed down by a steep decline in the construction of
multi-family homes, but a surge in building permits suggested
the housing market remained on solid ground.
* Commodity markets should brace for another assault on
prices if, as is widely expected, the U.S. Federal Reserve
tightens policy in December and the dollar strengthens further.
urn:newsml:reuters.com:*:nL8N13C3TE
* The dollar fell back from seven month peaks against a
basket of currencies early in Asia on Thursday. .DXY
* For the top stories on metals and other news, click
TOP/MTL or GOL
MARKET NEWS
U.S. stocks gained steam and the dollar touched a fresh
seven-month high on Wednesday after minutes from the most recent
Federal Reserve policy meeting showed a core of officials backed
a possible interest rate hike in December. MKTS/GLOB
DATA AHEAD (GMT)
0130 US Initial Jobless Claims
0130 US Philly Fed Business Index for Nov
PRICES AT 0020 GMT
Precious metals LONDON GMT
prices at
THU 19
0020
G.M.T
THU 19
0020
Metal Last PrevClose Change Pct chg
Spot Gold 1073.61 1070.76 2.85 0.27
Spot Silver 14.18 14.17 0.01 0.07
Spot Platinum 853.50 847.50 6.00 0.71
Spot Palladium 537.00 533.50 3.50 0.66
100 OZ GOLD DEC5 1073 1069 4.10 0.38
SILVER 5000 DEC5 14.165 14.081 0.08 0.60
MELBOURNE, Nov 19 (Reuters) - Gold prices revived on
Thursday from more than five year lows hit in the previous
session, as the dollar fell back, releasing its stranglehold on
commodities and making gold more affordable for buyers paying
with other currencies.
FUNDAMENTALS
* Spot gold XAU= traded up 0.3 percent to $1,073.61 an
ounce by 0020 GMT. Prices fell to 1,064.95 an ounce on
Wednesday, the weakest since Feb 2010.
* U.S. gold GCcv1 up 0.4 percent to $1,073 an ounce.
* Federal Reserve officials on Wednesday continued to flag
December as a likely time for interest rates to rise after seven
years near zero, with two expressing confidence they will be
able to pull off a rate hike smoothly despite fears of an abrupt
market reaction. urn:newsml:reuters.com:*:nL1N13D20B
* U.S. housing starts in October fell to a seven-month low,
weighed down by a steep decline in the construction of
multi-family homes, but a surge in building permits suggested
the housing market remained on solid ground.
* Commodity markets should brace for another assault on
prices if, as is widely expected, the U.S. Federal Reserve
tightens policy in December and the dollar strengthens further.
urn:newsml:reuters.com:*:nL8N13C3TE
* The dollar fell back from seven month peaks against a
basket of currencies early in Asia on Thursday. .DXY
* For the top stories on metals and other news, click
TOP/MTL or GOL
MARKET NEWS
U.S. stocks gained steam and the dollar touched a fresh
seven-month high on Wednesday after minutes from the most recent
Federal Reserve policy meeting showed a core of officials backed
a possible interest rate hike in December. MKTS/GLOB
DATA AHEAD (GMT)
0130 US Initial Jobless Claims
0130 US Philly Fed Business Index for Nov
PRICES AT 0020 GMT
Precious metals LONDON GMT
prices at
THU 19
0020
G.M.T
THU 19
0020
Metal Last PrevClose Change Pct chg
Spot Gold 1073.61 1070.76 2.85 0.27
Spot Silver 14.18 14.17 0.01 0.07
Spot Platinum 853.50 847.50 6.00 0.71
Spot Palladium 537.00 533.50 3.50 0.66
100 OZ GOLD DEC5 1073 1069 4.10 0.38
SILVER 5000 DEC5 14.165 14.081 0.08 0.60