January 16, 2018 / 1:15 AM / a year ago

PRECIOUS-Gold holds steady near 4-mth peak on weaker dollar

    Jan 16 (Reuters) - Gold prices on Tuesday held firm near
four-month highs hit in the previous session, buoyed after the
U.S. dollar slumped to three-year lows against a basket of
currencies on Monday.
    * Spot gold        was up 0.1 percent at $1,341.28 an ounce
by 0054 GMT, after touching its strongest since Sept. 8 at
$1,344.44 the session before.
    * U.S. gold futures         were up 0.5 percent at $1,341.70
an ounce.
    * U.S. markets were closed for a holiday on Monday. 
    * The dollar index on Monday dropped to its lowest since
December, 2014 at 90.279       . It was last down 0.5 percent at
    * Asian shares slumped on Tuesday, as miners were pressured
by weaker Chinese iron ore prices, while the euro stood near a
3-year peak on rising expectations that the European Central
Bank could pare its monetary stimulus.            
    * ECB rate-setter Ardo Hansson on Monday said the central
bank could end its bond purchase scheme in one go after
September if the economy and inflation develop as expected.
    * Crude oil prices got a lift to their highest levels since
December, 2014, helped by the dollar's recent weakness as well
as signs that production cuts by OPEC and Russia are tightening
    * Palladium        marked a record-high of $1,138 an ounce
on Monday. It was last down 0.1 percent at $1,124.50 early on
Tuesday. The metal has seen a sustained rally from high demand
in the auto industry amid a supply deficit.
    * Russia's largest gold miner Polyus           said on
Monday that plans to sell a 10 percent stake to a consortium led
by China's Fosun International           had been dropped after
one of the conditions of the agreement was not met.             
    * Russian Foreign Minister Sergei Lavrov said on Monday
Moscow will not support attempts by Washington to modify the
Iran nuclear deal, arguing such a move could also complicate
diplomacy over North Korea's nuclear weapons programme.
    * India's December gold imports were up 71.52 percent at
$3.39 billion.             

    0700  Germany   Wholesale price index      Dec
    0930  UK        Consumer prices            Dec
    1330  US        New York Fed manufacturing Jan

 (Reporting by Nallur Sethuraman in Bengaluru; Editing by Joseph
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