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PRECIOUS-Gold prices nearly flat as investors wait for Fed outcome
September 20, 2017 / 12:58 AM / a month ago

PRECIOUS-Gold prices nearly flat as investors wait for Fed outcome

    Sept 20 (Reuters) - Gold was steady on Wednesday, with
investors in wait-and-see mode ahead of the outcome of a two-day
Federal Reserve meeting in the United States.
        
    FUNDAMENTALS    
    * Spot gold        was flat at $1,310.93 an ounce at 0039
GMT.
    * U.S. gold futures         for December delivery were up
0.3 percent to $1,314.40 an ounce.
    * SPDR Gold Trust      , the world's largest gold-backed
exchange-traded fund, said its holdings rose 0.25 percent to
846.03 tonnes on Tuesday from 843.96 tonnes on Monday.          
    * The dollar was steady versus the yen        and against a
basket a currencies        early on Wednesday. 
    * Asian shares were mostly steady after Wall Street closed
at record highs.            
    * U.S. Treasury yields rose slightly on Tuesday as investors
waited on the conclusion of the Fed's two-day policy meeting on
Wednesday for new indications on whether an additional interest
rate hike is likely this year.       
    * U.S. President Donald Trump escalated his standoff with
North Korea over its nuclear challenge on Tuesday, threatening
to "totally destroy" the country of 26 million people and
mocking its leader, Kim Jong Un, as a "rocket man".             
    * European Central Bank policymakers disagree on whether to
set a definitive end-date for their money-printing programme
when they meet in October, raising the chance that they will
keep open at least the option of prolonging it again, six
sources told Reuters.             
    *  The mood among German investors improved more than
expected in September as worries about the stronger euro       
faded, suggesting that markets expect Europe's biggest economy
to continue its solid performance in coming months.             
    * U.S. homebuilding fell for a second straight month in
August as a rebound in the construction of single-family houses
was offset by persistent weakness in the volatile multifamily
home segment.                 
    
     DATA/EVENT AHEAD (GMT)
    
     0600  Germany         Producer prices           Aug 
     0830  Britain         Retail sales              Aug 
     1400  U.S.            Existing home sales       Aug 
     1800  U.S. Federal Reserve releases policy statement 
     1830  Fed Chair Janet Yellen holds news briefing 

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

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