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Feb 2, 2010

Gold steady; eyes U.S. jobs data

TOKYO (Reuters) – Gold prices held steady near $1,105 an ounce on Tuesday as investors refrained from betting heavily in either direction ahead of a key U.S. jobs report due later this week.

Bullion jumped more than 2 percent the previous day after data showed the U.S. manufacturing sector grew in January at a faster rate than expected, suggesting an improving outlook for the economy and inflationary pressures ahead.

Jan 28, 2010

Gold mostly steady under $1,090 after Obama speech

TOKYO (Reuters) – Gold was mostly unchanged at under $1,090 per ounce on Thursday as investors mulled direction after President Barack Obama laid out plans to revive the U.S. economy in his State of the Union speech.

Spot gold was little changed at $1,087.70 per ounce as of 0329 GMT, compared to New York’s notional close of $1,087.25.

Jan 25, 2010

Gold up, nears $1,100 as dollar dips

TOKYO (Reuters) – Gold rose on Monday to near $1,100 per ounce after the dollar edged down, helping bullion come off a one-month low hit in the previous session when commodities dipped on President Barack Obama’s proposal to limit financial risk-taking.

Obama’s plans to restrict banks or financial institutions from associating with a hedge fund or a private equity fund, which was unveiled on Thursday, caused stocks, the dollar and commodities to tumble.

Jan 15, 2010

Japan, China smelters OK 38 pct copper fee cut with BHP

TOKYO, Jan 15 (Reuters) – Japanese and Chinese smelters
agreed a 38 percent cut in 2010 copper treatment and refining
charges with BHP Billiton Plc/LTD <BHP.AX> <BLT.L>, industry
sources said on Friday, reflecting China’s robust demand for
copper.

The fees were set at $46.5 per tonne and 4.65 cents per
pound for processing copper concentrate into metal, the same
level as those set with U.S. miner Freeport-McMoRan Copper &
Gold Inc <FCX.N> late last year.

Jan 15, 2010

Gold slips below $1,140/oz as dollar reverses losses

TOKYO (Reuters) – Gold prices were a touch softer on Friday as the dollar reversed earlier losses, while palladium marked a fresh 18-month high, extending the previous day’s gains on strong demand due to the launch of a new investment tool.

Gold futures got a lift on Thursday in defensive buying ahead of possible measures by the Commodity Futures Trading Commission, the top U.S. futures market regulator, to rein in speculation in metals trading, dealers said.

Jan 12, 2010

Gold mostly unchanged, currency moves eyed

TOKYO (Reuters) – Gold prices were mostly flat around $1,150 per ounce on Tuesday after touching a five-week high in the previous session, as traders continued to watch the currency market for direction.

The price of the precious metal touched a five-week high of $1.161.50 on Monday, after worse-than-expected U.S. jobs data sent the dollar lower.

Jan 6, 2010

Gold rises above $1,120, platinum off highs

TOKYO (Reuters) – Gold prices rose above $1,120 per ounce on Wednesday although a slightly firmer dollar versus the euro capped gains, while platinum was off a 16-month high marked in the previous session.

Spot gold was at $1,123.25 an ounce by 0638 GMT, up 0.5 percent compared to New York’s notional close of $1,118.10.

Jan 4, 2010

Gold wavers near $1,095, eyes U.S. data

TOKYO (Reuters) – Gold prices traded narrowly around $1,095 an ounce on Monday, in cautious trade ahead of U.S. December employment data due later this week that could add to optimism about the economy.

A strong reading would likely add to the view that economic growth will be robust this year. That could stir talk that the Federal Reserve might raise interest rates sooner than expected, which would likely strengthen the dollar but pressure gold.

Dec 24, 2009

BHP still in talks for lower copper fees

TOKYO/HONG KONG, Dec 24 (Reuters) – Chinese and Japanese
copper smelters remain locked in talks over copper treatment
and refining charges (TC/RCs) with BHP Billiton
<BHP.AX><BLT.L>, after agreeing a 38 percent cut with
Freeport-McMoRan Copper & Gold Inc <FCX.N>.

BHP is expected to take a tougher stance on the fees — the
main source of revenue for smelters — and seek a 43 percent
cut, but with margins already squeezed by soft physical
premiums and low prices for byproducts such as sulphuric acid,
smelters will likely resist.

Dec 16, 2009

Gold mostly unchanged as Fed meeting eyed

TOKYO (Reuters) – Gold prices were mostly flat on Wednesday as traders refrained from betting heavily in either direction before they see if the Federal Reserve provides any clues on the timing of interest rate moves.

On Tuesday, gold was pulled both ways due to the dollar’s strength and inflation fears. The stronger dollar pressured gold while that was countered by inflation fears ignited by an unexpected jump in producer prices and rallying oil prices.