Wednesday, March 21, 2012

gold futures prices march 22 2012

gold futures prices march 22 2012 : Gold for immediate delivery was little changed at $1,651.75 an ounce at 10:35 a.m. Singapore time, paring an earlier advance of 0.4 percent, after a report showed China’s manufacturing data may contract for a fifth straight month in March. April-delivery metal was also little changed at $1,650.60 an ounce, trimming a 0.4 percent gain.

Gold prices are higher, stuck in a narrow range as investors await manufacturing data from China and the eurozone to assess the health of their economies, while a slightly lower US dollar lent some support.

Spot gold edged up 0.1 per cent to $US1651.64 an ounce. US gold was little changed at $US1651.80.

US home sales fell in February, but upward revisions to the prior month's pace and the first yearly increase in prices in 15 months pointed to steady improvement in the housing market.

Investors will focus on China HSBC flash purchasing managers index data, amid recent worries about Chinese economic growth. The eurozone PMI is due later today.

In India, the world's largest gold consumers, jewellers remained closed for the fifth day on Wednesday as a protest against an import duty hike on bullion. The eurozone debt crisis remains a lurking concern to financial markets.

On Wednesday, Spanish yields rose to a one-month high on worries over Spain's progress towards shoring up its finances.

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