Investor Dost

MARKET ROUNDUP


U.S. Gold fell on Monday after strong U.S. home sales data boosted equities and limited the precious metal's safe-haven appeal, but prices remaining below $1,200 an ounce drew physical demand, limiting losses.

IN FOCUS

- The world's largest gold-backed exchangetraded fund, SPDR Gold Trust said its holdings fell to 1,301.742 tonnes by July 26 from 1,302.046 on July 22.

- The world's largest silver-backed exchange-traded fund, the iShares Silver Trust, said its holdings stood at 9185.29 tonnes as of 26th July, unchanged from the previous business day.

- Russia's total gold output, including gold produced as a by-product and refined from scrap, fell 3.5 percent year-on-year in the first half of 2010 to 74.66 tonnes, theindustry lobby said on Monday.

- Sumitomo Metal Mining Co, which owns Japan's only gold mine, said on Monday it has extended long-term hedging against planned gold output as bullion prices have stayed high. Sumitomo Metal Mining took out options in September 2009 to hedge against the risk of fluctuations in the price of gold, the first time it had done so.

FUNDAMENTAL OUTLOOK


Precious metals prices are trading firm on COMEX today. We have Consumer confidence data to be released from US in the evening session today. Expectations for the same are negative. Any positive surprise in these numbers may further pressurize the prices of precious metals toady.