December 28, 2017 / 1:10 AM / 9 months ago

PRECIOUS-Gold holds steady as dollar remains subdued

    Dec 28 (Reuters) - Gold prices were steady early on
Thursday, holding onto gains from the previous session when they
hit a 3-1/2 week high, as the dollar stayed on the back foot.
    
    FUNDAMENTALS    
    * Spot gold        was little changed at $1,287.80 an ounce
at 0051 GMT, having hit its highest since Dec. 1 at $1,289 in
the previous session.
    * U.S. gold futures         were steady at $1,291.20 an
ounce. 
    * The dollar index       , which tracks the greenback
against a basket of six major rivals, was nearly flat at 92.990.
The dollar fell 0.1 percent against the yen at 113.20       . 
    * The U.S. dollar fell to a 3-1/2 week low against a basket
of currencies on Wednesday as traders bet more major central
banks will begin reducing monetary stimulus in 2018 because of
faster global economic growth.       
    * Asian shares rose to a one-month high on Thursday and were
on track for their best annual performance since 2009, while 
commodity-driven currencies were buoyed by a rally in copper,
which hit a four-year peak.               
    * The United States and Russia have agreed to continue
diplomatic efforts to resolve the crisis over North Korea's
development of nuclear missiles capable of hitting the United
States and emphasized that neither accept Pyongyang as a nuclear
power, the U.S. State Department said on Wednesday.             
    * Contracts to buy previously owned homes edged higher in
November, boosted by job growth across a strengthening economy.
            
    * Earnings at China's industrial firms grew at their slowest
pace in seven months in November, as demand and producer price
gains eased in further confirmation of ebbing growth in the
world's second-largest economy.             

    DATA/EVENT AHEAD (GMT)

    1330   U.S.  Weekly jobless claims
    1445   U.S.  Chicago purchasing management index   Dec

 (Reporting by Apeksha Nair in Bengaluru; Editing by Michael
Perry)
  
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