Wednesday, bullion prices flat around $1,100 an ounce underpinned by consistent retail demand from Asia, while investors were mostly cautious ahead of key events, including a US rate decision later in the day.

Spot gold rose slightly by 0.1% to $1,098.05 per ounce as of 00:09 GMT, compared to New York's notional close of $1,097.25.

Friday, spot gold hit a near 5-week low at $1,081.90 after news of Obama's proposal to limit financial risk-taking hit the broader commodities markets.

Investors are watching any influence on the dollar that could affect gold from the Federal Reserve's interest rate decision later in the day. President Barack Obama's State of theUnion speech is also due on Wednesday.

US gold futures for February delivery GCG0 slipped to $1,097.70 per ounce, compared to $1,098.30 at the close on the COMEX division of the NYMEX.

The SPDR Gold Trust said its holdings stood at 1,111.922 tonnes as
of January 26, unchanged since Jan. 19.

As for the other precious metals, ETFS Platinum metals holdings rose 18% to 194,887 ounces as of January, 25, while ETFS Palladium holdings climbed by 43% from the previous session to 399,925 ounces, according to ETF Securities. 


Around 00:10 GMT the precious metals was quoted as much as:

Metal Last Change Pct chg 2 day chg MA 30 RSI
Spot gold $1096.90 -$0.35 -0.03% -5.27% $1114.01 35
Spot silver $16.80 $0.08 +0.48% -7.59% $17.67 26
Spot plat $1526.50 -$6.00 -0.39% -4.17% $1521.20 37
COMEX gold $1096.50 -$32.90 -2.91% -4.77% $1118.16 37
TOCOM gold 3,171 -267 -7.77% -6.57% 3,294 31
TOCOM plat 4,373 -374 -7.88% -6.46% 4,303 22



TOCOM prices in yen per gram, except TOCOM silver which is priced in yen per 10 grams. Spot prices are in $ per ounce.