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Tuesday, April 17, 2012

Gold prices outlook april 18 2012

Gold prices outlook april 18 2012, spot gold 4/18/2012, gold futures : Gold traded steady near $1,650 an ounce on Wednesday, bouncing from a one-week low hit in the previous session after a successful Spanish debt auction eased fears about the euro zone debt crisis and lent support to the euro.

FUNDAMENTALS
* Spot gold was nearly flat at $1,650.19 an ounce by 0052 GMT, after touching a one-week low near $1,634 in the previous session.

* U.S. gold was little changed at $1,651.60.

* Worries about a new phase of the euro zone debt crisis eased on Tuesday after a Spanish debt auction met with better-than-expected buying interest, but concerns about the country's finances are likely to keep the pressure on in coming days.

* German business sentiment rose unexpectedly in April to its highest level since June 2010, a survey showed on Tuesday, suggesting Europe's biggest economy may be recovering from a weak spell.

* But output at U.S. factories slipped in March and builders started construction on fewer homes, offering cautionary signals for an economy that appeared to be gaining traction.

* The International Monetary Fund revised upward its global growth forecast for this year and 2013, but said risks remain high and growth is very fragile.

* Spot palladium rose to a two-week high of $662.50 an ounce, before paring some gains to $661.47, up 0.6 percent from the previous close.

MARKET NEWS
* U.S. stocks scored their biggest gains in a month on Tuesday after Coca-Cola led a round of strong earnings and as concerns about Europe's debt crisis eased as Spanish bond yields fell.

* The safe-haven yen stayed under pressure in Asia on Wednesday, having suffered a broad decline overnight as a revival in risk appetite saw Wall Street score its biggest gains in a month.

DATA/EVENTS
0830 UK Bank of England April meetings minutes
1100 US Mortgage market index Weekly
1130 India M3 Money Supply
2330 Japan Reuters Tankan DI Apr 2012
2350 Japan Exports yy Mar 2012

source : uk.reuters.com
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