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Sunday, April 22, 2012

Spot gold prices for april 23 2012

Spot gold prices april 23 2012, how will gold prices maonday april 23 2012, gold futures april 23 2012 : Gold hovered near $1,640 an ounce on Monday, after dropping 1 percent in the previous week, as investors waited for data on China's manufacturing activities which may help set the tone for financial markets.

Many investors chose to sit on the sidelines Monday following a mixed and largely uninspiring close on Wall Street Friday and amid a general lack of fresh leads. The market tone was cautious before a series of key events later in the week including the Bank of Japan's policy board meeting and the Federal Open Market Committee meeting, both of which could see the announcement of new easing measures.

FUNDAMENTALS
* Spot gold was little changed at $1,641.40 an ounce by 0023 GMT.

* U.S. gold traded nearly flat at $1,642.50.

* Investors will closely watch the flash China HSBC manufacturing survey at 0230 GMT to gauge the conditions of the world's second-largest economy.

* Leading world economies agreed to more than double the lending power of the International Monetary Fund in a bid to protect the global economy from the euro zone debt crisis.

* Meanwhile, global finance chiefs pressed Europe in weekend talks to quickly put in place the economic reforms needed to finally solve its debt crisis now that newly increased financial buffers have bought some precious time.

* The Netherlands, a core euro zone member, was drawn into Europe's debt crisis at the weekend when the government failed to agree on budget cuts, making elections almost unavoidable and casting doubt on its support for future euro zone measures.

* Money managers raised their net long positions in U.S. gold futures and options in the week ended April 17, but cut their net long bets in silver, said the U.S. Commodity Futures Trading Commission.

MARKET NEWS
* The euro retreated from two-week highs against the dollar on Monday, pausing after its best weekly performance since February, while sterling clung on to its newfound market-darling-status in the wake of upbeat UK retail sales
data.

* U.S. stocks mostly rose on Friday, led by solid earnings from McDonald's, General Electric and Microsoft, but declines in banks and technology shares pulled indexes from their day's highs.

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