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PRECIOUS-Gold holds near 8-week high as Trump policy concerns hit dollar
January 18, 2017 / 1:47 AM / 10 months ago

PRECIOUS-Gold holds near 8-week high as Trump policy concerns hit dollar

Jan 18 (Reuters) - Gold prices on Wednesday held near
eight-week highs hit in the previous session on uncertainty over
U.S. president-elect Donald Trump's economic plans, after the
dollar slid on his comments that the strong greenback was
"killing us".
    * Spot gold was firm at $1,216 per ounce by 0110 GMT.
Bullion hit an eight-week high of $1,218.64 in the previous
    * U.S. gold futures were up 0.3 percent at $1,216.10
per ounce.
    * Britain will quit the EU single market when it leaves the
European Union, Prime Minister Theresa May said on Tuesday in a
decisive speech that set a course for a clean break with the
world's largest trading bloc. 
    * In an article in the Wall Street Journal, Trump said the
strength of the U.S. dollar against China's yuan "is killing
    * San Francisco Federal Reserve Bank President John Williams
on Tuesday called for gradual U.S. interest-rate hikes over the
next few years to keep the economy from overheating and
ultimately falling into recession. 
    * Fed Chair Janet Yellen will have an opportunity to lay out
her thinking with speeches on monetary policy on both Wednesday
and Thursday this week.
    * Fed Governor Lael Brainard, a leading Federal Reserve
proponent of low interest rates, said on Tuesday the U.S.
central bank might hike rates more aggressively if deficit
spending under the Trump administration produced a quick
economic boost. 
    * The United Nations expects global economic growth to rise
to 2.7 percent this year and 2.9 percent in 2018, and said
Brexit and U.S. President-elect Donald Trump's tax policies
could have adverse effects. 
    * Canadian gold miner Goldcorp Inc detailed an
ambitious growth plan on Tuesday that includes increasing
production and yet-to-be-mined reserves by 20 percent over the
next five years from existing operations and deposits, lifting
its shares. 
    * Striking workers at Yamana Gold Inc's El Peñón
mine in Chile have reached a wage agreement with the Canadian
miner, allowing the mine to reopen on Wednesday, a union leader
said on Tuesday. 
    * Ghana's gold output fell 7 percent in the first nine
months of 2016 to 1.9 million ounces compared with the same
period the previous year, data from the Ghana Chamber of Mines
showed on Tuesday. 
    * India's rough diamond imports fell 4.7 percent in December
from a year ago to $1.398 billion, a trade body said on Tuesday,
as the scrapping of high value currency notes forced many small
polishing units to idle their units. 
    * For the top stories on metals and other news, click
     1000  Euro zone       Inflation final             Dec 
     1330  U.S.            Consumer prices             Dec 
     1415  U.S.            Industrial production       Dec 
     1500  U.S.            NAHB housing market index   Jan 
     2000  Federal Reserve Chair Janet Yellen speech 

 (Reporting By Nallur Sethuraman in Bengaluru; Editing by Sonali

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