Reuters: Most Read Articles: PRECIOUS-Gold ticks up before emergency G7 talks

Reuters: Most Read Articles Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

PRECIOUS-Gold ticks up before emergency G7 talks Jun 5th 2012, 00:51 Tweet Share this Email Print Mon Jun 4, 2012 8:51pm EDT SINGAPORE, June 5 (Reuters) - Gold edged up on Tuesday as oil and equities gained ahead of emergency talks by the Group of Seven leading industrialised powers, which will discuss the deepening problems in the euro zone that threaten to spur a global economic meltdown. Bullion rose more than 3 percent last week, when it broke its trend of trading in sync with riskier assets, but it slipped in New York on Monday after declines in U.S. equities forced speculators to cash in the metal to cover losses. FUNDAMENTALS * Spot gold rose $1.15 ounce to $1,619.90 an ounce by 0032 GMT. Gold rallied to a record of around $1,920 an ounce in 2011, when investors turned to the metal as a safe haven during the debt crisis in Europe. * U.S. gold futures for August rose $7.60 an ounce to $1,621.50 an ounce. * Finance chiefs of the Group of Seven leading industrialized powers will hold emergency talks on the euro zone debt crisis on Tuesday in a sign of heightened global alarm about strains in the 17-nation European currency area. * France and the European Commission signalled their support on Monday for an ambitious plan to use the euro zone's permanent bailout fund to rescue stricken banks, as European officials try to reassure investors they can contain an escalating crisis. * For the top stories on metals and other news, click , or MARKET NEWS * Japan's Nikkei share average inched higher in early trade on Tuesday, climbing from the previous session's hefty losses, as investors trimmed bearish bets ahead of emergency talks by the Group of Seven leading industrialized powers. * U.S. crude prices extended gains to edge above $84 a barrel on Tuesday on hopes that emergency talks by the Group of Seven leading industrialized powers will help ease concerns over Europe's debt crisis. * New orders for U.S. factory goods fell in April for the third time in four months as demand slipped for everything from cars and machinery to computers, the latest worrisome sign for the economy. DATA/EVENTS (GMT) 0230 China HSBC services PMI May 0758 EZ Markit Services PMI May 1145 U.S. ICSC chain stores yy Weekly 1255 U.S. Redbook retail sales Weekly 1400 U.S. ISM Non-Manufacturing PMI May PRICES Precious metals prices 0032 GMT Metal Last Change Pct chg YTD pct chg Volume Spot Gold 1619.90 1.15 +0.07 3.59 Spot Silver 28.35 0.13 +0.46 2.38 Spot Platinum 1431.75 9.10 +0.64 2.78 Spot Palladium 613.70 5.32 +0.87 -5.95 COMEX GOLD AUG2 1621.50 7.60 +0.47 3.49 2058 COMEX SILVER JUL2 28.34 0.33 +1.19 1.52 523 Euro/Dollar 1.2536 Dollar/Yen 78.29 COMEX gold and silver contracts show the most active months (Reporting by Rujun Shen and Lewa Pardomuan; editing by Miral Fahmy) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (1) WOW… I guess it's time to call Warren at Lear Capital again………. Jun 04, 2012 10:21pm EDT  --  Report as abuse See All Comments » Add Your Comment

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions