PRECIOUS-Gold edges up as U.S. shutdown drags on, debt limit looms
SINGAPORE, Oct 7 (Reuters) - Gold ticked up in early Asian trading on Monday as the near-week long U.S. government shutdown raised fears Congress may struggle to raise the U.S. debt ceiling, burnishing bullion's safe-haven appeal.
* Spot gold had gained 0.2 percent to $1,313.04 an ounce by 0011 GMT. Platinum rose 0.5 percent as mine strikes threatened to hurt supply.
* Democrats and Republicans remained far apart in ending the first government shutdown in 17 years over a spending bill, stoking fears they would not be able to reach a deal to raise the U.S. borrowing limit by Oct. 17 to avoid an unprecedented debt default.
* Republican House Speaker John Boehner vowed on Sunday not to raise the U.S. debt ceiling without a "serious conversation" about what is driving the debt, while Democrats said it was irresponsible and reckless to raise the possibility of a U.S. default.
* Congress should limit Wall Street's controversial role in commodity markets, and rewrite a law that gives banks broad leeway to own oil, metals and other raw materials, a senior U.S. regulator said on Friday.
* India's customs department has cleared more than a tonne of gold, part of which was owned by Bank of Nova Scotia, at Mumbai airport after rule clarifications at a high-level meeting held last month, industry and bank officials said on Saturday.
* Platinum operations around the South African mining city of Rustenburg will face water use restrictions because of a drought, hurting the world's three largest platinum producers which have developments there.
* No. 1 platinum producer Anglo American Platinum is already facing a strike at its South African operations that it said was cutting output by an average 3,100 ounces a day.
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* Asian markets look set for a cautious start to the week on Monday, with U.S. stock futures and the dollar coming under pressure due to the budget standoff. The dollar was still not too far off from its eight-month low.
DATA/EVENTS (GMT) 0500 Japan Coincident indicator 0500 Japan Leading indicator 0830 Euro zone Sentix index
Precious metals prices 0011 GMT
Metal Last Change Pct chg YTD pct chg Volume Spot Gold 1313.04 2.43 +0.19 -21.59 Spot Silver 21.76 0.11 +0.51 -28.14 Spot Platinum 1387.99 7.39 +0.54 -9.58 Spot Palladium 698.97 1.97 +0.28 1.01 COMEX GOLD DEC3 1313.90 4.00 +0.31 -21.60 2227 COMEX SILVER DEC3 21.81 0.05 +0.24 -28.05 808 Euro/Dollar 1.3564 Dollar/Yen 97.20
COMEX gold and silver contracts show the most active months
(Reporting by A. Ananthalakshmi; Editing by Joseph Radford)