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Gold and silver prices steady on Monday 9 may 2011

Gold and silver prices steady on Monday 9 may 2011 - gold, silver news 9 may 2011 : Gold and silver prices held steady on Monday after plunging last week in a broad sell-off for commodities, as investors closely watch the euro zone's debt crisis and its implication for the single currency.

FUNDAMENTALS MAY 9 2011

* Spot gold was little changed at $1,493.75 an ounce by 0042 GMT, after posting a 4.5 percent fall last week, its worst since February 2009.

* COMEX gold futures GCv1 edged up 0.2 percent to $1,493.80.

* Spot silver inched down 0.2 percent to $35.54, after losing a quarter of its value in the previous week. COMEX
silver SIcv1 gained 1.4 percent to $35.78.

* More market turbulence is in store after commodities staged their worst weekly decline since 2008, with the 19-commodity Reuters-Jefferies CRB index down 9 percent on the week, even after unexpectedly strong job data from the United States. [ID:nOAT004799]

* Speculators scaled back net longs in COMEX silver and gold in the week to May 3. [ID:nN06302550]

* Top finance officials of the euro zone's biggest economies met to discuss Greece's debt crisis on Friday and Athens denied a media report that it was considering whether to leave the bloc. [ID:nLDE7451YY]

* For the top stories on metals and other news

MARKET NEWS MAY 9 2011

* The dollar index edged lower on Monday, after rising to its highest in two and a half weeks on Friday following a media report that Greece has talked about leaving the euro zone, which triggered heavy losses in the single currency.

* An unexpectedly strong report on U.S. payrolls helped equities bounce back on Friday from four days of losses, tempering worries that stocks could suffer the sharp declines seen this week in commodities.

* U.S. crude rebounded more than a $1 a barrel on Monday after plummeting over $16 last week as investors fled commodities on worries over slowing global growth.

PRICES
Precious metals prices 0042 GMT

Metal             Last    Change  Pct chg  YTD pct chg    Volume
Spot Gold        1493.75   -0.30   -0.02      5.23
Spot Silver        35.54   -0.06   -0.17     15.17
Spot Platinum    1784.00    2.25   +0.13      0.93
Spot Palladium    715.25    1.37   +0.19    -10.54
TOCOM Gold       3888.00   25.00   +0.65      4.26        56653
TOCOM Platinum   4686.00  -11.00   -0.23     -0.21         7039
TOCOM Silver       92.80    2.40   +2.65     14.57         3966
TOCOM Palladium  1862.00    7.00   +0.38    -11.21          666
COMEX GOLD JUN1  1493.80    2.20   +0.15      5.09         3930
COMEX SILVER JUL1  35.78    0.49   +1.40     15.64         4222
Euro/Dollar       1.4393
Dollar/Yen         80.69
TOCOM prices in yen per gram. Spot prices in $ per ounce.
COMEX gold and silver contracts show the most active months For the latest updates PRESS CTR + D or visit Stock Market news Today

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