Reuters logo
PRECIOUS-Gold near 7-week highs on weaker dollar
January 12, 2017 / 1:05 AM / a year ago

PRECIOUS-Gold near 7-week highs on weaker dollar

Jan 12 (Reuters) - Gold edged higher early on Thursday to
hold near 7-week highs touched in the previous session, as the
dollar weakened after Donald Trump provided little clarity on
future fiscal policies in his first press conference as U.S.
    * Spot gold was up 0.2 percent at $1,193.31 per
ounce. Bullion on Wednesday touched a high of $1,198.40, its
best since Nov. 23.
    * U.S. gold futures fell 0.2 percent to $1,193.70
per ounce.
    * In his first press briefing as U.S. president-elect, Trump
presided over a wide-ranging session that lasted longer than
expected but contained no details on tax cuts and infrastructure
spending, analysts said. 
    * Trump's campaign calls for tax cuts and more
infrastructure spending have boosted U.S. shares and the dollar,
as well as driving a selloff in Treasuries, but his
protectionist statements and a flurry of off-the-cuff Tweets
have kept many investors from adding to risky positions.
    * The dollar index, which tracks the U.S. currency against a
basket of six major counterparts, was down 0.1 percent at 101.65
, having hit a one-week high on Wednesday. 
    * Federal Reserve Chair Janet Yellen appears at a webcast
town hall meeting with educators on Thursday. 
    * A host of Federal Reserve presidents including
Philadelphia, Chicago, Atlanta, Dallas and St. Louis  will also
speak on a range of issues. 
    * Bank of England Governor Mark Carney said on Wednesday
that Britain's giant financial services sector could be
undermined if key parts of the industry move elsewhere because
of Brexit. 
    * China's forex regulator is telling banks to keep its
instructions about curbing capital outflows secret and to ensure
that research analysts keep any negative views about the yuan's
prospects to themselves, several bankers said. 
    * On Thursday, the Labor Department's import prices report
is expected to show prices rising 0.7 percent in December after
falling 0.3 percent in November. 
    * Meanwhile, the number of Americans filing for unemployment
benefits likely rose 20,000 to a seasonally adjusted 255,000 for
the week ended Jan. 7. 
    * For the top stories on metals and other news, click

     0900  Germany             Full-year GDP           
     1000  Euro zone       Industrial production       Nov 
     1330  U.S.            Import prices               Dec 
     1330  U.S.            Export prices               Dec 
     1330  U.S.            Weekly jobless claims 
     2230  Fed Chair Janet Yellen webcast

 (Reporting By Nallur Sethuraman in Bengaluru; Editing by
Richard Pullin)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below