Gold prices fell on Wednesday as a stronger dollar reduced the metal's appeal as an alternative investment, while platinum dropped more than 3 percent on demand concerns.
PRICES
* Spot gold was at $758.90/761.20 an ounce at 0709 GMT compared with $770.10 late in New York on Tuesday.
* Silver was at $9.93/10.01 from $10.07.
* Platinum at $858.50/878.50 from $885.50.
* Palladium at $174.50/182.50 from $179.50.
DATA/EVENTS
* Bank of England to publish minutes of its Oct. 8-9 Monetary Policy Committee meeting, due 0830 GMT.
* U.K. Financial Services Authority chief Hector Sants speaks at Hedge Fund conference.
* ECB Executive Board member Jose Manuel Gonzalez Paramo speaks at IBF National Conference 'Beyond Financial Turmoil'.
* Britain's economy is probably entering its first recession in 16 years, and the outlook has not worsened as rapidly as it has in the past month for a very long time, Bank of England Governor Mervyn King said on Tuesday.
* Silver and gold producer Hochschild Mining Plc posted a 2 percent rise in attributable third-quarter output said it was on track to meet its full-year target.
MARKET NEWS
* The dollar jumped to a two-year high against a basket of currencies on Wednesday as investors bet that interest rates outside the United States will be cut sharply to try to bolster global growth.
* U.S. crude oil futures fell $3 a barrel to just above $69 on Wednesday on mounting worries that output cuts by producer group OPEC will not be enough to offset weakening energy demand in leading consumers.
* European equities were seen falling on Wednesday, adding to the previous session's losses, on mounting concerns over corporate results while heavyweight energy and mining shares could fall along with commodity prices.
* U.S. stocks skidded on Tuesday, as commodity shares fell on fears of a global recession and a rash of disappointing earnings heightened worries about the deteriorating profit picture.
FUNDAMENTALS
* The Costa Rican Supreme court ordered a small Canadian mining company to halt construction at an open-pit gold mine on Tuesday, ruling with environmental groups who say the project is destroying virgin forest.
TECHNICALS
* Gold support at $764, resistance at $804, RSI 14 at 27.6.
* Silver support $9.58, resistance $10.35, RSI 14 at 40.0.
* Platinum support $860, resistance $931, RSI 14 30.7.
Related Products:
    
aluminum tube aluminum fin strip copolymer coated aluminum tape kitchen cabinet zinc strip
|
