PRECIOUS-Gold steady; safe-haven status intact after bin Laden death
SINGAPORE, May 3 (Reuters) - Spot gold held steady on Tuesday, as investors see little change in the metal's safe-haven appeal after al-Qaeda leader Osama bin Laden was killed on Monday.
* Spot gold was little changed at $1,544.86 an ounce by 0046 GMT, after trading in a range between $1,540.39 and the record high of $1,579.75 on Monday.
* U.S. gold futures GCcv1 declined 0.8 percent to $1,545.10, up from an intraday low of $1,516.20.
* Gold traded mixed on Monday after the news that Osama bin Laden was killed in a U.S.-led action. The fall in risk premium for commodity markets will be short lived, with gold and oil in focus on new concerns that al Qaeda may seek retribution. [ID:nL3E7G20RU]
* The CME Group Inc raised COMEX 5000 Silver <0#SI:> maintenance margins for speculators by 11.6 percent to $12,000 per contract from $10,750 effective Tuesday, May 3. This is the third time that the exchange raised margin since last Monday. [ID:nL3E7G22TT]
* Spot silver lost 8.5 percent on Monday, its biggest daily loss since December 2008. It edged up 0.4 percent to $44.07. COMEX silver SIcv1 stood at $44.59.
* The dollar struggled to pull away from a three-year trough early in Asia on Tuesday, with higher-yielding currencies like the Australian dollar still in favour even as markets become more concerned over stretched positions.
* U.S. crude futures extended losses from the previous session.
DATA/EVENTS 0500 India HSBC Markit Mfg PMI Apr 2011 0743 Italy Markit/ADACI Mfg PMI Apr 2011 0753 Germany Markit/BME Mfg PMI Apr 2011 0758 EZ Markit Mfg PMI Apr 2011 1400 U.S. ISM Manufacturing PMI Apr 1400 U.S. Construction spending Mar
PRICES Precious metals prices 0046 GMT Metal Last Change Pct chg YTD pct chg Volume Spot Gold 1544.86 0.56 +0.04 8.84 Spot Silver 44.07 0.18 +0.41 42.81 Spot Platinum 1858.00 3.75 +0.20 5.12 Spot Palladium 767.50 -1.95 -0.25 -4.00 TOCOM Gold 4072.00 -15.00 -0.37 9.20 22271 TOCOM Platinum 4904.00 41.00 +0.84 4.43 3055 TOCOM Silver 118.70 1.30 +1.11 46.54 1953 TOCOM Palladium 2030.00 -17.00 -0.83 -3.20 197 COMEX GOLD JUN1 1545.10 -12.00 -0.77 8.70 12077 COMEX SILVER JUL1 44.59 -1.49 -3.24 44.12 4039 Euro/Dollar 1.4788 Dollar/Yen 81.05 TOCOM prices in yen per gram. Spot prices in $ per ounce. COMEX gold and silver contracts show the most active months (Editing by Michael Urquhart)
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