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REFILE-PRECIOUS-Gold steady ahead of UK poll verdict
June 9, 2017 / 1:02 AM / in 5 months

REFILE-PRECIOUS-Gold steady ahead of UK poll verdict

 (Refiles to fix graphic link)
    BENGALURU, June 9 (Reuters) - Gold prices held steady ahead
of the verdict of the UK national election, with early results
suggesting no clear winner which could plunge the country into a
new bout of political turmoil before Brexit talks.     
    The metal fell 0.6 percent in the previous session after
former FBI director James Comey's Congressional testimony was
seen as containing no major surprises.
    
              
    FUNDAMENTALS    
    * Spot gold        rose 0.1 percent to $1,279.13 per ounce
at 0046 GMT.    
    * U.S. gold futures         for August delivery rose 0.2
percent to $1,281.5.  
    * Sterling sank in Asia on Friday after British elections
seemed to have left no single party with a clear claim to power,
sideswiping investors who had already weathered major risk
events in the United States and Europe.       
    * British Prime Minister Theresa May spectacularly lost her
electoral gamble, according to an exit poll that suggested her
Conservatives would fall short of a majority in parliament,
throwing her Brexit plans into disarray.            
    * Former FBI director James Comey accused President Donald
Trump on Thursday of firing him to try to undermine its
investigation into possible collusion by his campaign team with
Russia's alleged efforts to influence the 2016 presidential
election.             
    * The European Central Bank closed the door on more interest
rate cuts on Thursday, judging the euro zone economy to be
rebounding, but said inflation looks to remain weak for years so
it still needs to pump out the cash.             
    * Two contenders have emerged to run London's silver
benchmark - gold benchmark operator Intercontinental Exchange
(ICE), which offers a model with clearing, and a flexible
auction process proposed by the London Metal Exchange
(LME).            
    * The number of Americans filing for unemployment benefits
fell last week, unwinding half of the prior period's jump and
suggesting the labor market was tightening despite a recent
slowdown in job growth.             
    * Holdings in SPDR Gold Trust      , the world's largest
gold-backed exchange-traded fund, rose 0.24 percent to 867.00
tonnes on Thursday.          
    * Demand for gold in Asia was muted this week as bullion's
rebound in prices curbed purchases, with discounts in India
widening to the highest in more than five months.               
     
                        
    DATA AHEAD (GMT) 
    0130  China     Consumer prices                May 
    0130  China     Producer prices                May 
    0600  Germany   Trade balance                  Apr 
    0645  France    Industrial output              Apr 
    0830  Britain   Industrial output              Apr 
    1400  U.S.      Wholesale sales                Apr  

    
 (Reporting by Vijaykumar Vedala in Bengaluru; Editing by
Richard Pullin)
  

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