Gold gained on Wednesday after holdings in the world's largest bullion-backed ETF hit another record as investors sought safety from tumbling stock markets.
* Spot gold rose $4.55 to $1,242.55 an ounce by 9:01 p.m. EDT after volatile trade on Tuesday, when it dropped toward $1,220 before bouncing to around $1,241. Gold struck a record above $1,264 an ounce last week.
* U.S. gold futures for August delivery were steady at $1,243.4 an ounce.
* The world's largest gold-backed exchange-traded fund, SPDR Gold Trust (GLD.P) said its holdings rose to a record 1,320.436 metric tons by June 29 from 1,316.177 metric tons on June 24.
* The yen and the Swiss franc held on to broad gains on Wednesday as nervous investors rushed to unwind leveraged carry trades on the back of a significant deterioration in risk appetite.
* Japan's Nikkei average fell more than 2 percent to a seven-month low on Wednesday after investors fled the U.S. stock market and the S&P 500 tumbled in a sell-off triggered by a wave of rising alarm over the global economic outlook.
* U.S. crude fell for a third day on Wednesday as the dollar strengthened and economic woes intensified, shrugging off news that a quarter of U.S. Gulf production had been shut and a bigger-than-expected drop in the nation's crude inventories.
Precious metals prices at 9:01 p.m. EDT
Metal Last Change Pct chg YTD pct chg Turnover
Spot Gold 1242.55 4.55 +0.37 13.40
Spot Silver 18.50 0.04 +0.22 9.92
Spot Platinum 1532.00 -7.50 -0.49 4.43
Spot Palladium 450.50 0.50 +0.11 11.10
TOCOM Gold 3549.00 5.00 +0.14 8.90 27847
TOCOM Platinum 4406.00 -64.00 -1.43 0.57 15137
TOCOM Silver 53.30 -0.30 -0.56 3.09 204
TOCOM Palladium 1295.00 -41.00 -3.07 11.16 232
TOCOM prices in yen per gram. Spot prices in $ per ounce.
(Reporting by Lewa Pardomuan; Editing by Clarence Fernandez)