Westkam Gold Corp (WKGFF)

[the cork]

PRECIOUS-Gold off 3-mth lows, eyes on stronger dollar
Thu Jan 28, 2010 7:13pm EST

TOKYO, Jan 29 (Reuters) - Gold prices were off near
three-month lows on Friday but remained pressured, hurt by a
rising dollar and waning investors' risk appetite.

FUNDAMENTALS

* Spot gold XAU= was down 0.2 percent to $1,084.80 per
ounce, compared to New York's notional close of $1,086.75. Spot
gold hit a low of $1,073.75 on Thursday, the weakest since Nov.
3.

* U.S. gold futures for April delivery GCJ0 inched up 0.1
percent to $1,086.10 per ounce, compared to $1,084.80 an ounce
on the COMEX division of the NYMEX.

* Gold fell to a near three-month low on Thursday, hit by a
stronger dollar and uncertainty over how U.S. President Barack
Obama's proposal last week to limit risk taking by banks could
impact gold trading. Obama renewed his calls for robust Wall
Street reform in his annual State of the Union address on
Wednesday.

* The world's largest gold-backed exchange-traded fund,
SPDR Gold Trust (GLD), said its holdings stood at 1,111.922
tonnes as of Jan. 28, unchanged from the previous business day.
[GOL/SPDR]

MARKET NEWS

* U.S. stocks dropped on Thursday as poor outlooks from
Motorola and Qualcomm dented optimism in the technology sector
while worries about Greece's fiscal health dragged on
sentiment. [.N]

* The dollar was firmer on Friday after rising to a
6-1/2-month peak against the euro the previous day when
investors remained anxious about the fiscal health of Greece
and other small euro zone countries. [USD/]

DATA EVENTS

* The following data is expected on Friday: ECON

- Nationwide January house price data. (0700 GMT)

- Euro zone M3, private loan data for December. (0900 GMT)

- Euro zone flash HICP for January. (1000 GMT)

- Euro zone unemployment data for December. (1000 GMT)

- U.S. advance Q4 GDP. (1330 GMT)

- U.S. employment cost index for Q4. (1330 GMT)

- ISM New York for January. (1330 GMT)

- ISM Chicago PMI for January. (1445 GMT)

RELATED NEWS

>Gold drops on dollar rise, liquidation worry
[GOL/]

>Stronger dollar pressures oil and metal prices
[COM/WRAP]

>US durable goods orders up, jobless claims
dip[ID:nN28241882]

>China gold output at record at 313.98T in
2009[ID:nTOE60R07R]

PRICES

Precious metals prices at 2343 GMT
Metal Last Change Pct chg 2 Day chg MA 30
RSI
Spot gold $1085.00 -$1.75 -0.16% -6.30% $1111.88
29
Spot silver $16.17 -$0.03 -0.19% -11.06% $17.59
19
Spot plat $1507.50 -$0.50 -0.03% +0.33% $1525.95
33
COMEX gold $1085.40 -$1.80 -0.17% +0.03% $1115.61
29
TOCOM gold 3,172 3 +0.09% +0.38% 3,283
32
TOCOM plat 4,384 13 +0.30% +1.43% 4,502
37
Currencies
Euro/dlr $1.396 $0.000 -0.01% -0.41%
Dlr/yen 89.76 -0.11 -0.12% -0.27%
TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Reporting by Chikako Mogi)

http://www.reuters.com/article/idUSTOE60R08Q20100129