PRECIOUS-Gold inches up but stronger dollar caps gains

Tue Feb 19, 2013 12:47am GMT

SINGAPORE, Feb 19 (Reuters) - Gold edged up on Tuesday to
extend slight gains from the previous session, but prices were
capped as the U.S. dollar rose to a more than one-month high
against other currencies.
    
    FUNDAMENTALS
    * Spot gold had climbed 0.2 percent to $1,612.90 an
ounce by 0029 GMT, off a six-month low of $1,598.04 hit late
last week.
    * U.S. gold was also up 0.2 percent at $1,612.90.
    * European Central Bank President Mario Draghi sought to
take the heat out of a debate about currency wars on Monday but
said the ECB would still have to assess the economic impact of
the euro's strength. 
    * A few Bank of Japan board members said extending the
duration of government bonds purchased under the BOJ's
asset-buying programme to around five years could be an option
for the central bank, minutes of its policy-setting meeting in
January showed on Tuesday. 
    * Investors will closely read the minutes from the latest
policy meeting of the U.S. Federal Reserve, due Wednesday, which
could shed light on that central bank's attitude to monetary
stimulus, which was a key driver behind gold's rally in recent
years. 
    * India's government may further raise import duties on gold
or put a cap on purchases in a bid to rein in the current
account deficit in the 2013/14 budget, an official with the
biggest state-run gold importer said on Monday. 
    * South African police said on Monday that at least 13
people were injured, including four security guards who were
hacked by machetes, in a labour fight at a mine of Anglo
American Platinum, the world's top platinum producer.
 
    * Iran criticised on Monday a reported plan by major powers
to demand the closure of a uranium enrichment plant in return
for an easing of sanctions on Tehran's trade in gold and other
precious metals, Iranian media reported. 
    * For the top stories on metals and other news, click
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    MARKET NEWS
    * The dollar index rose to its highest level in more
than one month, while the yen hovered near a one-week low
against the dollar hit in the previous session after Japan
signalled it would push ahead with expansionist monetary
policies. 
    * Tokyo's Nikkei share average opened lower on Tuesday,
after rising more than 2 percent and approaching a four-year
high in the previous session. 
    
    DATA/EVENTS (GMT)
 1000  Germany    ZEW economic sentiment                         
 1500  U.S.       NAHB housing market index                      
        
    PRICES
    
     Precious metals prices 0029 GMT
  Metal             Last    Change  Pct chg  YTD pct chg    Volume
  Spot Gold        1612.90    3.35   +0.21     -3.68
  Spot Silver        30.02    0.18   +0.60     -0.86
  Spot Platinum    1690.99   -1.01   -0.06     10.16
  Spot Palladium    761.00    0.00   +0.00      9.97
  COMEX GOLD APR3  1612.90    3.40   +0.21     -3.75        67303
  COMEX SILVER MAR3  30.02    0.17   +0.56     -0.71        18254
  Euro/Dollar       1.3343
  Dollar/Yen         93.73
  COMEX gold and silver contracts show the most active months
 
    

 (Reporting by Rujun Shen; Editing by Joseph Radford)
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