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PRECIOUS-Gold inches up as dollar, Asian stocks slip
December 29, 2016 / 1:06 AM / a year ago

PRECIOUS-Gold inches up as dollar, Asian stocks slip

Dec 29 (Reuters) - Gold prices crawled up early Thursday,
supported by a softer dollar and weaker Asian equities.
    
    FUNDAMENTALS
    * Spot gold edged up 0.2 percent to $1,144.36 an
ounce by 0044 GMT. Gold has risen about 8 percent so far this
year despite an 8 percent drop in November.
    * U.S. gold futures were up 0.4 percent at $1,145.40
per ounce.
    * The dollar index, which measures the greenback
against a basket of currencies, eased 0.2 percent at 103.13.
    * The dollar sagged against the yen early on Thursday as
U.S. yields dropped overnight to two-week lows, but the
greenback managed to hold steady against the euro and pound.
 
    * Asian shares slipped on Thursday after Wall Street
suffered a mild setback after weeks of gains. MSCI's broadest
index of Asia-Pacific shares outside Japan was
off a slight 0.1 percent. 
    * Contracts to buy previously owned U.S. homes fell in
November to their lowest level in nearly a year, a sign rising
interest rates could be weighing on the housing market, the
National Association of Realtors said on Wednesday. 
    * Shanghai Gold Exchange, the world's biggest physical
bullion exchange, said on Wednesday it will curb the amount of
gold investors can trade at one time, a move analysts said would
limit institutional investors' influence on prices. 
    * For the top stories on metals and other news, click
 or 
    
    MARKET REPORT
    U.S. oil prices fell on Thursday following a surprise build
in the country's crude stocks shown in data published by the
American Petroleum Institute (API) late on Wednesday. 
    
    DATA AHEAD (GMT)
    
    0700   GB        Nationwide House Price          
 
    0900   Eurozone  Money M3 Annual Growth           
 
    1330   U.S.      Initial Jobless Claims          
 
    1330   U.S.      Jobless Claims 4 week average  

 (Reporting by Swati Verma in Bengaluru; Editing by Amrutha
Gayathri)

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