Dec 23 Gold held little changed early on Friday
and was on track for a seventh straight weekly decline amid
expectations that the U.S. Federal Reserve will opt for more
interest rate hikes in 2017.
* Spot gold was steady at $1,128.76 an ounce by 0038
GMT. Bullion closed down 0.2 percent on Thursday. The yellow
metal was on track to end the week down nearly 0.5 percent.
* U.S. gold futures were little changed at $1,130
* New orders for U.S.-made capital goods rose more than
expected in November. Other data on Thursday showed that
third-quarter U.S. economic growth beat expectations.
* But the number of Americans applying for unemployment aid
hit a six-month high last week and U.S. consumer spending
increased modestly in November.
* More consistent evidence of U.S. economic strength could
prompt the Fed to tighten credit again sooner than later. Higher
rates discourage buying of non-interest-paying bullion, which is
priced in dollars.
* Global investors' equity holdings rose to six-month highs
in December on bets that U.S. President-elect Donald Trump's
promised fiscal splurge would spur higher growth and inflation,
a Reuters monthly poll showed on Thursday.
* China's leadership is signalling growth will slow slightly
in 2017, policy advisers say, as it struggles to strike a
balance between supporting the economy with loose credit
conditions and preventing a destabilising build-up in debt.
* Japan's cabinet approved on Thursday a record $830 billion
spending budget for fiscal 2017 that counts on low interest
rates and a weak yen to limit borrowing, underscoring the
challenge Tokyo faces in curbing the industrial world's heaviest
* Russia and Kazakhstan raised their gold reserves in
November, data from the International Monetary Fund showed on
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DATA AHEAD (GMT)
0700 Germany GfK consumer sentiment Jan
0745 France GDP final Q3
0745 France Consumer spending Nov
0930 Britain GDP Q3
1500 U.S. New home sales Nov
(Reporting By Nallur Sethuraman in Bengaluru; Editing by