(Repeats to insert dropped word in headline)
SINGAPORE, Feb 7 (Reuters) - Gold held steady on
Tuesday, as investors remain focused on the development in
Greece's struggle with its debt crisis after Athens delayed its
decision on accepting the terms of a new bailout.
FUNDAMENTALS
* Spot gold was little changed at $1,718.59 an ounce
by 0041 GMT, after touching a 1-1/2-week low of $1,711.29 in the
previous session.
* U.S. gold edged down 0.2 percent to $1,721.50.
* Greece on Monday delayed its decision on whether to accept
the terms of a new bailout for yet another day. Failure to
strike a deal could push Greece into a chaotic debt default.
* Market participants are also awaiting a rate decision by
Australia's central bank later in the day. The Reserve Bank of
Australia is expected to further ease interest rates as the
Europe debt woes drag on.
* Major bullion bank HSBC said it was keeping its 2012
average gold forecast at $1,850 an ounce due to accommodative
global monetary policies and investor jitters about financial
markets.
* Platinum output in South Africa is likely to end up lower
than forecast this year due to snowballing labour and safety
stoppages, supporting metal prices but boosting costs for
producers and dampening share prices.
* Spot platinum lost 0.2 percent to $1,618.75, up
about 16 percent so far this year, after a 21-percent decline in
2011.
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MARKET NEWS
* U.S. stocks closed slightly lower on Monday as lingering
questions about Europe's debt crisis and corporate earnings
overshadowed growing optimism about economic growth after a
five-week rally.
* The euro held steady in Asia on Tuesday as markets
remained sanguine that Greece will eventually clinch a rescue
package, even as the country's political leaders delayed their
decision to accept painful terms by yet another day.
DATA/EVENTS
Xstrata Plc earnings Q4
0330 Australia RBA cash rate Final Feb
1100 Germany Industrial output mm Dec 2011
1245 U.S. ICSC chain stores yy Weekly
2350 Japan Bank lending yy Jan
PRICES
Precious metals prices 0041 GMT
Metal Last Change Pct chg YTD pct chg Volume
Spot Gold 1718.59 -0.61 -0.04 9.90
Spot Silver 33.61 -0.02 -0.06 21.38
Spot Platinum 1618.75 -3.24 -0.20 16.21
Spot Palladium 700.38 -2.59 -0.37 7.34
COMEX GOLD APR2 1721.50 -3.40 -0.20 9.87 1269
COMEX SILVER MAR2 33.64 -0.12 -0.34 20.49 1171
Euro/Dollar 1.3121
Dollar/Yen 76.53
COMEX gold and silver contracts show the most active months
(Reporting by Rujun Shen; Editing by Himani Sarkar)
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