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CORRECTED-PRECIOUS-Gold holds steady at near three-week high as dollar firms
November 9, 2017 / 1:15 AM / 9 days ago

CORRECTED-PRECIOUS-Gold holds steady at near three-week high as dollar firms

 (Corrects final bullet point to show SPDR holdings fell for a
sixth, not fifth, day)
    Nov 9 (Reuters) - Gold held steady early on Thursday after
marking a near three-week high in the previous session as the
dollar firmed, while palladium remained close to an over 16-year
peak touched on Wednesday.
            
    FUNDAMENTALS    
    * Spot gold        was nearly unchanged at $1,280.81 per
ounce at 0101 GMT. On Wednesday, it rose 0.4 percent and touched
its highest since Oct. 20 at $1,287.13 an ounce.
    * U.S. gold futures         for December delivery dipped 0.2
percent to $1,281.40. 
    * Palladium        gained 0.1 percent to $1,014.25 an ounce.
It touched its highest since 2001 at $1,019 on Wednesday.
    * The dollar index        against a basket of six major
currencies was up 0.1 pct.       
    * Asia stocks hovered near a decade high on Thursday
following another record-breaking day on Wall Street.
            
    * A Senate tax-cut bill, differing from one in the House of
Representatives, was expected to be unveiled on Thursday,
complicating a Republican push to overhaul the federal tax code.
            
    * North Korea and trade will likely top the agenda when U.S.
President Donald Trump and Chinese President Xi Jinping sit down
for formal talks on Thursday, a day after Trump warned Pyongyang
of the grave danger of developing nuclear weapons.              
    * The IMF on Wednesday urged Japan to maintain its massive
monetary stimulus to boost consumer prices, a view echoed by a
central bank board member, reinforcing expectations policy will
remain accommodative.             
    * The Bank of Japan's nine-member board debated calls from
one of its policymakers to target the longer end of the yield
curve at a rate review in October, a summary of their opinions
showed on Thursday, with several stressing that the current
stimulus was sufficient.               
    * India's gold imports in the last quarter of 2017 could
drop by a fourth from a year ago due to weak demand during key
festivals and as investors seek better returns from riskier
assets such as equities, industry officials and analysts said.
            
    * Holdings in SPDR Gold Trust      , the world's largest
gold-backed exchange-traded fund, fell for the sixth straight
day on Wednesday by 0.14 percent to 843.09 tonnes.              
          
    DATA/EVENT AHEAD (GMT)
    0130  China  Consumer prices                Oct
    0130  China  Producer prices                Oct
    0700  Germany Trade data                    Sep
    1330  U.S. Weekly jobless claims
    1500  U.S. Wholesale sales                  Sep        

 (Reporting by Vijaykumar Vedala in Bengaluru; Editing by
Amrutha Gayathri)
  

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