April 17, 2018 / 1:19 AM / 3 months ago

PRECIOUS-Gold gains as dollar weakens further

    BENGALURU, April 17 (Reuters) - Gold prices edged higher on
Tuesday as the U.S. dollar slipped further, making bullion less
expensive for holders of other currencies.
    
    FUNDAMENTALS  
    * Spot gold        was up 0.2 percent at $1,348.82 an ounce
as of 0102 GMT, and U.S. gold futures         were up 0.1
percent to $1,351.5 an ounce.
    * The dollar index       , which measures the greenback
against a basket of currencies, was down 0.1 percent at 89.384,
following a 0.4 percent fall on Monday.       
    * Against the yen, the dollar        was off its seven-week
high of 107.78 yen touched on Friday as traders braced for a
meeting between U.S. President Donald Trump and Japanese Prime
Minister Shinzo Abe starting on Tuesday.             
    * The United States accused Russia on Monday of blocking
international inspectors from reaching the site of a suspected
poison gas attack in Syria and said Russians or Syrians may have
tampered with evidence on the ground.             
    * Trump has delayed imposing additional sanctions on Russia
and is unlikely to approve them unless Moscow carries out a new
cyber attack or some other provocation, a senior administration
official said on Monday.             
    * Trump said on Monday he would nominate Richard Clarida as
Federal Reserve Vice Chairman, adding another hawkish voice at
the central bank.             
    * Gold consumption in China in the first three months of
this year fell 5.44 percent to 284.97 tonnes from a year
earlier, Chinese state television CCTV reported on Monday,
citing data from the China Gold Association.             
    * Kazakhstan raised gold holdings by 3.1 tonnes to 310.1
tonnes in March, while Argentina lowered gold holdings by 6.8
tonnes to about 55 tonnes during the same period, International
Monetary Fund data showed on Monday.             
    * Azerbaijan's top gold producer, Anglo Asian Mining
       , said on Monday it had increased its gold production by
49 percent year-on-year in the first quarter of 2018 to 16,479
ounces from 11,078 ounces in the same period last year.
            
    * Kalamazoo Resources Ltd          said on Tuesday it would
purchase three gold projects in Western Australia's Pilbara.
            
    * The London Bullion Market Association on Monday said it
added Hindustan Zinc Ltd's (HZL) silver refinery in India to its
82-strong 'Good Delivery List', a leading benchmark for silver
bar quality.             
    
    
    DATA AHEAD (GMT)
    0200  China         GDP                     Q1
    0200  China         Industrial output       March
    0200  China         Retail sales            March
    0200  China         Urban investment        March
    0900  Germany       ZEW economic sentiment  April
    1230  U.S.          Housing starts          March
    1230  U.S.          Building permits        March
    1315  U.S.          Industrial production   March

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