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PRECIOUS-Gold steady as dollar edges up; focus on Trump agenda
March 28, 2017 / 1:50 AM / 5 months ago

PRECIOUS-Gold steady as dollar edges up; focus on Trump agenda

    March 28 (Reuters) - Gold prices steadied on Tuesday as
investors looked to see if U.S. President Donald Trump will be
able to enact promised tax cuts and infrastructure spending,
taking the dollar off multi-month lows.
     
    FUNDAMENTALS
    * Spot gold        was mostly unchanged at $1,254.12 per
ounce at 0102 GMT, after touching $1,261.03, the highest in a
month, in the previous session.
    * U.S. gold futures         inched down 0.1 percent to
$1,253.9.
    * Asian stocks pulled ahead on Tuesday after Wall Street
steadied and the dollar bounced from a four-month-low, as
concern over Trump's setback on his healthcare reform bill gave
away to tentative hopes for the U.S. President's planned
stimulus policies.             
    * Trump suffered a major reversal when Republican leaders
pulled legislation to overhaul the U.S. healthcare system. The
blow unnerved financial markets, heightening worries about the
chances of enacting tax reforms and big spending packages.
            
    * Dallas Federal Reserve Bank President Robert Kaplan said
on Monday that he will support further interest rate hikes if
the U.S. economy continues to make progress towards its goals of
full employment and 2-percent inflation.             
    * The case for four interest rate hikes in the United States
this year is not yet solid and would require a stronger lift in
inflation, Chicago Federal Reserve Bank President Charles Evans
said at an event in Madrid.
    * Evans said he saw three rate hikes in 2017 as "plausible",
but added that two or four increases were also a possibility.
            
    * Kenya's bourse admitted its first ever exchange traded
fund (ETF) on Monday, a cross-listing of the Barclays NewGold
ETF, which was originally listed in South Africa.             
    * Russia, Kazakhstan raise gold holdings in February -IMF
            
    * China's net-gold imports via main conduit Hong Kong surged
50.8 percent month-on-month in February, data showed on Monday.
            
    * A Canadian gold coin named "Big Maple Leaf" which bears
the image of Queen Elizabeth II was stolen in the early hours of
Monday morning from Berlin's Bode Museum.             

    DATA AHEAD (GMT)
    
    1230  U.S.     Adv Goods Trade Balance    Feb 
    1400  U.S.     Consumer Confidence        Mar 
    1400  U.S.     Rich Fed Comp index        Mar

  

 (Reporting by Arpan Varghese in Bengaluru; Editing by Richard
Pullin)
  

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