November 19, 2019 / 2:20 AM / 20 days ago

PRECIOUS-Gold rises as Sino-U.S. trade deal doubts resurface

    Nov 19 (Reuters) - Gold inched up to its highest in more
than 1-1/2 weeks on Tuesday, as fresh doubts about a trade deal
between the United States and China dented appetite for riskier
assets.
    
    FUNDAMENTALS
    * Spot gold        rose 0.2% to $1,473.04 per ounce by 0105
GMT. It had hit the highest level since Nov.7 at $1,475.40.
    * U.S. gold futures        edged up 0.2% to $1,474.10 per
ounce.
    * Citing a government source, CNBC reported that Beijing was
pessimistic about a trade deal with the United States, troubled
by President Donald Trump's comments that there was no agreement
on rollback of tariffs.             
    * Asian shares started Tuesday softer as another day
awaiting clearer news on the progress of trade negotiations
between the two major economies weighed on jaded investors'
sentiment.            
    * The United States is gravely concerned about deepening
political unrest and violence in Hong Kong, Secretary of State
Mike Pompeo said, urging the city's government to tackle public
concerns and China to honour its promises of liberties.
            
    * China's top legislature said Hong Kong courts had no power
to rule on the constitutionality of legislation under the Asian
financial hub's Basic Law, which includes a proposed ban on face
masks, state news agency Xinhua said.             
    * The dollar        held close to a two-week low, with
demand hurt by receding hopes for a preliminary trade truce.
    * Trump and Federal Reserve Chair Jerome Powell met at the
White House on Monday, "to discuss the economy, growth,
employment and inflation", two days before the Fed is set to
release the minutes of the year's last policy meeting.
            
    * Canadian miner Barrick Gold Corp          is keen to top
its $1.5 billion target for asset sales after shedding its half
of the Super Pit gold mine in Western Australia, Chief Executive
Officer Mark Bristow said.
    * SPDR Gold Trust      , the world's largest gold-backed
exchange-traded fund, said its holdings fell 0.56% to 891.79
tonnes on Monday from 896.77 tonnes on Friday.          
    * Bank of Japan Governor Haruhiko Kuroda said the bank would
keep its monetary policy bias towards additional easing, in view
of overseas risks that cloud the economic outlook.             
    * Elsewhere, silver        gained 0.2% to $17.05 an ounce,
while palladium        fell 0.4% to $1,730.17 an ounce. Platinum
       inched up 0.1% to $894.80.
    
DATA/EVENTS (GMT)
1330   US  Housing Starts Number   Oct

 (Reporting by Diptendu Lahiri in Bengaluru; Editing by Clarence
Fernandez and Uttaresh.V)
  
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