Gold remains low on US and Europe economic growth

Gold remains low on US and Europe economic growth

Gold prices stayed near a four-month low in Friday deals after declining over 2% during the previous session as economic reports from the United States and Europe showed steady growth decreasing thus safe-haven demand from investors.

Spot gold was little changed at $1,313.25 an ounce by 0041 GMT, after falling to $1,308.70 in the previous session, its lowest in nearly four months.

U.S. gold futures fell 0.4 percent at $1,313.

U.S. housing and factory data on Thursday showed the economy still gaining strength in December but at a pace unlikely to cause the Federal Reserve to rethink its stimulus program.

euro zone economic sentiment was broadly flat in January, pointing to a good start to 2011, but inflation expectations jumped among companies and households, adding to European Central Bank policy headaches.

Holdings in the SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, fell about three tonnes to its eight-month low of 1,226.546 tonnes.

Precious metals prices 0041 GMT

Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1313.25 1.01 +0.08 -7.48
Spot Silver 26.90 0.02 +0.07 -12.83
Spot Platinum 1777.99 -3.01 -0.17 0.59
Spot Palladium 801.47 -0.75 -0.09 0.25
TOCOM Gold 3511.00 -51.00 -1.43 -5.85 35292
TOCOM Platinum 4790.00 -36.00 -0.75 2.00 4881
TOCOM Silver 71.80 -1.20 -1.64 -11.36 668
TOCOM Palladium 2139.00 -10.00 -0.47 2.00 290
COMEX GOLD FEB1 1313.00 -5.40 -0.41 -7.63 1559
COMEX SILVER MAR1 26.90 -0.13 -0.48 -13.06 501
Euro/dollar 1.3725
Dollar/Yen 82.84

TOCOM prices in yen per gram. Spot prices in $ per ounce.