July 31, 2018 / 1:00 AM / 4 months ago

PRECIOUS-Gold prices buoyed by weaker dollar vs yen

    BENGALURU, July 31 (Reuters) - Gold prices crept higher
early on Tuesday, supported by the dollar's slight fall against
the yen ahead of a monetary policy decision from the Bank of
Japan.
    
    FUNDAMENTALS  
    * Spot gold        was up 0.1 percent at $1,222.28 an ounce
at 0041 GMT. 
    * U.S. gold futures         were about 0.1 percent higher at
$1,222.10 an ounce.   
    * The yen strengthened slightly against the dollar on
Tuesday as investors awaited the outcome later in the day of a
much-anticipated Bank of Japan monetary policy meeting.       
    * The greenback was down 0.1 percent at 110.93 yen       .
    * The Bank of Japan is expected to trim its inflation
forecasts on Tuesday and consider changes to its massive
stimulus programme to make it more sustainable, reflecting a
growing recognition it will take longer than expected to meet
its elusive price goal.             
    * Japan's jobless rate rose in June while the availability
of jobs improved to the highest in more than four decades,
figures from the Internal Affairs ministry showed on Tuesday.
            
    * Asian share markets weakened on Tuesday, taking cues from
the rout in global technology shares.                 
    * Euro zone economic sentiment edged lower in July, pulled
down by less optimism in industry and the retail sectors,
despite a better mood in services, a monthly survey by the
European Commission showed on Monday.             
    * China offered Britain talks on a post-Brexit free trade
deal on Monday, reaching out to London as Beijing remains mired
in an increasingly bitter trade war with Washington, even as a
senior Chinese diplomat reiterated its door remained open for
dialogue.             
    * U.S. President Donald Trump said on Monday he would be
willing to meet Iran's leader without preconditions to discuss
how to improve ties after he pulled the United States out of the
2015 Iran nuclear deal, saying, "If they want to meet, we'll
meet."             
    * Brazil's geological service is studying auctioning off
mining rights in 2019 to six previously unexplored areas that
may have significant deposits of copper, gold, phosphate and
other minerals, the head of the organisation told Reuters on
Monday.              

 (Reporting by Apeksha Nair in Bengaluru)
  
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