MARKET ROUNDUP Precious metals prices ended up yesterday but off earlier-session peaks, as successful European bond sales and a more positive economic outlook by Federal Reserve Chairman Ben Bernanke lessened safe-haven buying. IN FOCUS - The world's largest gold-backed exchangetraded fund, SPDR Gold Trust, said its holdings fell to 1,265.093 tonnes by Jan 13 from 1,271.467 tonnes on Jan 11. - Holdings in the world's largest silver backed exchange-traded fund, iShares Silver Trust, stood at 10725.73 by Jan 13, unchanged from the previous business day. - ETF Securities said on Thursday it will launch its first U.S. precious metals exchange traded product backed by bullion stored in vaults in Singapore. - Gold could rally to record highs above $1,600 an ounce late this year or early 2012 as safe-haven concerns fueled investment demand, respected metals consultancy GFMS Ltd said on Thursday. - Canadian mineral explorer Claude Resources Inc posted an 8 percent decline in fourth-quarter gold production, and said it expects to ramp up production at its Santoy 8 mine in Saskatchewan from the first quarter. FUNDAMENTAL OUTLOOK Precious metals prices are trading higher on COMEX today. We expect a further rise in the prices of precious metals tracking weaker US dollar overseas.

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