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PRECIOUS-Gold prices nudge up ahead of Fed meeting minutes
November 22, 2017 / 1:22 AM / 21 days ago

PRECIOUS-Gold prices nudge up ahead of Fed meeting minutes

    Nov 22 (Reuters) - Gold prices inched up early on Wednesday
as investors remained cautious ahead of the release of minutes
from the U.S. Federal Reserve's last meeting, which could offer
hints on the outlook for the central bank's monetary policy. 
        
    FUNDAMENTALS    
    * Spot gold        was up 0.1 percent at $1,281.40 per ounce
by 0057 GMT. 
    * U.S. gold futures         for December delivery were
steady at $1,281.30.
    * The Fed is "reasonably close" to its goals and should keep
gradually raising U.S. interest rates to avoid the dual pitfalls
of letting inflation drift below target for too long, and of
driving unemployment down too far, Fed Chair Janet Yellen said
on Tuesday.                 
    * U.S. home sales increased more than expected in October as
hurricane-related disruptions eased, but a chronic shortage of
houses which is pushing prices beyond the reach of some
first-time buyers remains an obstacle.             
    * The Bank of Japan is dropping subtle, yet intentional,
hints that it could edge away from crisis-mode stimulus earlier
than expected, through a future hike in its yield target,
according to people familiar with the central bank's thinking.
            
    * Bank of England rate-setters spelled out their differences
on Tuesday over the central bank's first interest rate hike in a
decade, as they focused on how to determine when low
unemployment was about to push up inflation.             
    * Following the collapse of German coalition talks, the
prospects for a meaningful leap forward in European cooperation,
driven by newly minted governments in Berlin and Paris, look
dimmer than ever.                 
    * The dollar dipped against its peers on Wednesday, weighed
down as U.S. Treasury yields failed to rise despite increasing
investor risk appetite in the broader financial markets.       
    * Asian shares scaled a fresh decade-peak on Wednesday
thanks to surging markets in Europe and America, as strong
global growth and rising corporate profits lured hordes of
investors into equities.                
    * The global platinum market deficit will rise sharply next
year thanks to resurgent demand from the jewellery and
industrial sectors and declining production, an industry report
said on Tuesday.             
    * Gold mining revenues in Mali increased by 14 percent in
2016 to 280 billion CFA francs ($505 million), Mines Minister
Tiemoko Sangare said on Tuesday, revising an earlier estimate.
            

    
    DATA/EVENT AHEAD (GMT)
    1330  U.S. Durable goods                      Oct
    1330  U.S. Weekly jobless claims
    1500  Euro zone Consumer confidence flash     Nov
    1900  U.S. Federal Reserve releases minutes from 
          Oct.31-Nov.1 policy meeting

 (Reporting by Vijaykumar Vedala in Bengaluru; Editing by Joseph
Radford)
  

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