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PRECIOUS-Gold falls to lowest in nearly 2 weeks, U.S. inflation data in focus
September 14, 2017 / 1:08 AM / 2 months ago

PRECIOUS-Gold falls to lowest in nearly 2 weeks, U.S. inflation data in focus

    Sept 14 (Reuters) - Gold edged down early on Thursday to
hover around its lowest in nearly two weeks, with investors
turning their attention to U.S. consumer inflation data later in
the day for clues on the timing of further interest rate hikes. 
        
    FUNDAMENTALS    
    * Spot gold        was down 0.2 percent at $1,320.21 an
ounce by 0048 GMT, after earlier dropping to its lowest since
Sept. 1 at $1,318.96.
    * U.S. gold futures         for December delivery were down
0.3 percent at $1,324.50 an ounce.
    * Asian stocks edged down on Thursday, consolidating after
ascending a decade-high, while the dollar held steady before the
U.S. inflation report for August is published.            
    * U.S. producer prices rebounded in August, driven by a
surge in the cost of gasoline, and there were also signs of a
pickup in underlying producer inflation.             
    * North Korea displayed trademark defiance on Wednesday over
new United Nations sanctions imposed after its sixth and
largest-ever nuclear test, vowing to redouble efforts to fight
off what it said was the threat of a U.S. invasion.             
    * U.S. President Donald Trump blocked a Chinese-backed
private equity firm from buying a U.S.-based chipmaker on
Wednesday, sending a clear signal to Beijing that Washington
will oppose takeover deals that involve technologies with
potential military applications.             
    * The European Central Bank's chief economist renewed his
call on Wednesday for a "steady hand" in conducting the ECB's
ultra-easy monetary policy despite a positive growth outlook.
            
    * The Bank of England must decide how forcefully to talk
about the prospect of a first interest rate rise in a decade on
Thursday when it will weigh up the need to help Britain's
Brexit-bound economy against tackling a jump in inflation.
                
    
    DATA/EVENT AHEAD (GMT)
    0200  China          Industrial output                 Aug 
    0200  China          Retail sales                      Aug 
    0200  China          Urban investment                  Aug 
    1100  Bank of England announces interest rate decision 
    1230  U.S.           Consumer prices                   Aug 
    1230  U.S.           Weekly jobless claims

 (Reporting by Apeksha Nair in Bengaluru; Editing by Joseph
Radford)
  

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