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PRECIOUS-Gold slips amid steady dollar; investors wary ahead of Jackson Hole meet
August 22, 2017 / 1:20 AM / a month ago

PRECIOUS-Gold slips amid steady dollar; investors wary ahead of Jackson Hole meet

    BENGALURU, Aug 22 (Reuters) - Gold prices were a touch lower
amid a steady dollar early on Tuesday, with investors eying
developments on the geopolitical front and remaining cautious
ahead of an annual central banking meeting in Jackson Hole later
this week.
    
    FUNDAMENTALS    
    * Spot gold        had slipped 0.1 percent to $1,289.77 an
ounce by 0054 GMT, after rising 0.5 percent in the previous
session
    * U.S. gold futures         for December delivery were down
0.1 percent to $1,295.30 per ounce.
    * Asian shares edged higher on Tuesday, taking solace from
modest gains on Wall Street even as investors remained wary
ahead of the annual Jackson Hole gathering.           
    * The dollar index       , which tracks the greenback
against a basket of six major rivals, was steady at 93.107.
      
    * The United States and South Korean began long-planned
joint military exercises on Monday, heightening tensions with
North Korea which called the drills a "reckless" step toward
nuclear conflict.             
    * U.S. workers see little hope for higher paychecks, and
while they are increasingly searching for new jobs, they expect
fewer offers to fall into their laps, according to a Federal
Reserve survey published on Monday.             
    * A vast majority of Japanese firms do not want any further
radical monetary easing, even though they believe the central
bank's inflation goal will either take more than three years to
achieve or is an impossible target, a Reuters poll showed.
            
    * Emerging economies' debt in euros has shot to record highs
thanks to European Central Bank largesse, and yet an approaching
end to this generosity won't necessarily inflict the kind of
pain that markets once suffered at the hands of the U.S. Fed.
            
    * The Swiss National Bank will have to wait years before it
can start winding down its huge foreign currency holdings for
fear of triggering renewed rises in the Swiss franc that would
hurt exporters.             
    * South Africa's AngloGold Ashanti          reported a
first-half loss on Monday on costs related to layoffs and money
set aside for litigation, but stuck to its full-year targets.
            

     DATA AHEAD (GMT) 
    
     0830    U.K.     Public finances                     Jul  
     0900    Germany  Economic sentiment index (ZEW)      Aug  
     1300    U.S.     Home prices (FHFA)                  Jun 
     1400    U.S.     Richmond Fed manufacturing index    Aug

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

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