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PRECIOUS-Gold hits historic high on dollar,silver at 31-year top

Published 04/14/2011, 08:40 PM
Updated 04/14/2011, 08:44 PM
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SINGAPORE, April 15 (Reuters) - Gold jumped to another record on Friday after the dollar fell to its lowest since late 2009 against a basket of major currencies, taking silver to its strongest since 1980 but trading was muted ahead of the release of key Chinese economic data.

FUNDAMENTALS

* Spot gold rose $5.76 an ounce to $1,478.66 ounce by 0026 GMT, having hit a high of $1,479.01 an ounce.

* Spot silver rose as high as $42.41 an ounce, a 31-year peak.

* The dollar fell against a basket of major currencies early in Asia on Friday but looked unlikely to extend losses significantly ahead of Chinese economic data.

* Unofficial figures on Thursday suggested the Chinese data including retail sales, industrial output and consumer inflation due at 0200 GMT will probably be stronger than expected. [ID:nL3E7FE0EO]

* U.S. gold futures for June rose as high as $1,480.5 an ounce, a lifetime high.

* IShares Silver Trust said its holdings edged up to 10,974.26 tonnes by April 14 from 10,969.71 tonnes on April 13. The holdings hit a record of 11,242.89 tonnes hit on April 8.

MARKET NEWS

* Japan's Nikkei stock average opened lower on Friday and is expected to round off a week of thin choppy trade inside the tight range that has confined it since the start of the month, with resource and energy shares bouncing back after oil prices gained the day before.

DATA EVENTS (GMT)

0200 China Industrial output yy Mar 2011

0200 China Retail sales yy Mar 2011

0200 China CPI yy Mar 2011

0200 China PPI yy Mar 2011

0200 China Urban investment (ytd) Mar 2011

0430 Japan Industrial output rev Feb 2011

0900 EZ Inflation, final yy Mar 2011

0900 EZ Eurostat trade nsa, EUR Feb 2011

:: China FDI (ytd) Mar 2011

1230 U.S. Consumer prices March

1315 U.S. Industrial output/ March

1355 U.S. Reuters/U. Michigan April-pre Precious metals prices 0026 GMT Metal             Last    Change  Pct chg  YTD pct chg  Turnover Spot Gold        1478.66    5.76   +0.39      4.17 Spot Silver        42.34    0.26   +0.62     37.20 Spot Platinum    1790.24    3.75   +0.21      1.29 Spot Palladium    775.72   15.09   +1.98     -2.97 TOCOM Gold       3983.00   43.00   +1.09      6.81        36608 TOCOM Platinum   4842.00  21.00   +0.44      3.11         6382 TOCOM Silver      114.00    3.10   +2.80     40.74         1348 TOCOM Palladium  2090.00   15.00   +0.72     -0.33          169 Euro/Dollar       1.4496 Dollar/Yen         83.58 TOCOM prices in yen per gram. Spot prices in $ per ounce.

(Reporting by Lewa Pardomuan; Editing by Ed Lane)

Reuters Terminal users can see related news and prices by double clicking on the codes in brackets: - All precious metals headlines - Precious metals market reports - Daily fixing headlines - Technical analysis - Indian gold reports - European gold prices <0#PREC> - London interbank gold forward rates <0#GOFO=> - London silver forwards - Gold lease rates <0#LGLR=> - London Bullion Market Association - New York Comex gold <0#GC:> and silver <0#SI:> - New York platinum <0#PL:> and palladium <0#PA:> - Asian gold prices <0#PREC> - Australian precious metals prices <0#AUPREC=> - Shanghai Gold Exchange prices - Hong Kong gold exchange prices - Hong Kong bullion prices - Indian bullion prices <0#PREC-IN> - Japanese producer prices For Related News and other topics, double click on one of these codes: SPEED GUIDES

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