Gold steadies after volatile trade; near 4 month high
Feb 27 2014 , Singapore
* Spot gold was little changed at $1,330.00 an ounce by 0031 GMT. On Wednesday, it hit a four-month high at $1,345.35 before falling almost 1 percent on a dollar rally and surging U.S. home sales -- its biggest one-day loss in nearly a month.
* U.S. gold was at $1,330.10 an ounce, up $2.10.
* Sales of new U.S. single-family homes surged to a 5-1/2-year high in January, but the bounce was likely to be short-lived amid signs of a broader weakness in the housing market.
* Holdings of the largest gold-backed exchange-traded-fund (ETF), New York's SPDR Gold Trust GLD increased 0.26 percent on Tuesday from Monday.
* A new burst of investment in commodities after a hellish 2013 is expected to fizzle out in coming months, with investors alert to the fickle nature of rallies across basic resources such as gold and agriculture.
* Asian shares got off to a shaky start on Thursday as emerging markets were rattled by escalating tensions in Ukraine, sending investors scurrying to the safety of the dollar and US Treasuries.
* US crude oil dipped early on Thursday after rising the previous day when the contract was supported by a surprisingly small build in crude inventories.