PRECIOUS-Silver, gold near record; dollar wallows at 3-year low Fri Apr 29, 2011 12:40am GMT

SINGAPORE, April 29 (Reuters) - Silver and gold were within sight of
historic highs on Friday and could resume an uptrend as the dollar held near
three-year lows against a basket of currencies on the Federal Reserve's
intention to keep interest rates near zero.

FUNDAMENTALS
* Silver barely moved, standing at 48.28 an ounce by 0017 GMT, having
rallied to a record at $49.51 an ounce on Thursday.
* Spot gold added 75 cents to $1,535.70 an ounce after hitting a
lifetime high around $1,538 an ounce in the previous session.
* Soaring prices hurt the bottom line of certain manufacturers, including
photography company Eastman Kodak , which said on Thursday a hike in raw
material costs, particularly silver, led to a decrease in its film business
revenue. [ID:nN28229826]
* The dollar wallowed at three-year lows against a basket of currencies
early in Asia on Friday and remained on track for its biggest weekly fall in 14
weeks, though selling pressure eased as bears were already very short.

MARKET NEWS
* Tokyo stocks climbed 1.6 percent on Thursday to their highest since last's
month earthquake, helped by better-than-expected domestic earnings and
strength in U.S. shares after the Federal Reserve pledged to
hold short-term rates near zero.
* U.S. crude oil futures rose on Thursday to hit a 31-month high settlement
after a volatile trading session that saw a weak dollar attract investors
seeking alternative assets.

DATA EVENTS (GMT)
1230 U.S. Personal income mm Oct
1355 U.S. U.Mich conditions final Apr
1355 U.S. U.Mich expectation final Apr
1355 U.S. U.Mich sentiment final Apr
1430 U.S. ECRI index Weekly
:: U.S. Dallas Fed PCE Mar

Precious metals prices 0017 GMT
Metal Last Change Pct chg YTD pct chg Turnover
Spot Gold 1535.70 0.75 +0.05 8.19
Spot Silver 48.28 -0.13 -0.27 56.45
Spot Platinum 1836.74 1.64 +0.09 3.92
Spot Palladium 782.00 10.77 +1.40 -2.19
TOCOM Gold 4030.00 1.00 +0.02 8.07 17566
TOCOM Platinum 4847.00 31.00 +0.64 3.22 1717
TOCOM Silver 126.10 -0.30 -0.24 55.68 1879
TOCOM Palladium 2021.00 5.00 +0.25 -3.62 154
Euro/Dollar 1.4839
Dollar/Yen 81.57
TOCOM prices in yen per gram. Spot prices in $ per ounce.


(Reporting by Lewa Pardomuan; Editing by Clarence Fernandez)



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