April 24, 2018 / 12:53 AM / in 6 months

PRECIOUS-Gold steady but buoyant dollar, Treasury yields weigh

    BENGALURU, April 24 (Reuters) - Gold prices steadied in
Asian trade on Tuesday, a day after falling to the lowest level
in more than two weeks, as a climb in the dollar and 10-year
U.S. Treasury yields dampened the appeal of bullion, which pays
no interest.

    FUNDAMENTALS  
    * After falling for three sessions, spot gold        edged
up 0.1 percent to $1,325.16 per ounce at 0041 GMT, not far from
a low of $1,321.81 an ounce touched on Monday, its weakest level
since April 6.
    * U.S. gold futures         gained 0.2 percent to $1,327.10
per ounce.
    * The dollar index       , which measures the greenback
against a basket of currencies, was steady near the more than
three-month high of 90.985 hit in the previous session.       
    * U.S. bond prices fell on Monday, with the 10-year yield
hitting its highest in over four years.      
    * Palladium        plunged 5 percent on Monday after the
United States gave American customers of Russia's biggest
aluminum producer Rusal           more time to comply with
sanctions.             
    * Rusal owns a 28 percent stake in Norilsk Nickel          ,
the world's biggest palladium producer.
    * South Korea on Monday halted the propaganda broadcasts it
blares across the border with North Korea, aiming to set a
positive tone ahead of the first summit in a decade between
their leaders as the U.S. president cautioned the nuclear crisis
was far from resolved.             
    * Russia raised gold holdings by 10.3 tonnes to 1,890.9
tonnes in March, International Monetary Fund data showed on
Monday.             
    * Barrick Gold Corp          said on Monday it was done
selling assets to cut debt and would instead use funds from
future sales for growth or to pay dividends, as it looks set to
lose its rank as the world's biggest gold producer due to
declining production.             
    * Australia's biggest gold miner Newcrest Mining         
said on Monday it has been approved to use the first 200 metres
of its Cadia Hill mine's open pit as a tailings storage facility
after its flagship mine restarted processing earlier this month.
            
    
    DATA AHEAD (GMT)
    0645  France       Business climate manufacturing   April
    0800  Germany      Ifo business climate             April
    1300  U.S.         Monthly Home Price Index         Feb
    1300  U.S.         S&P/Case-Shiller housing index   Feb
    1400  U.S.         New home sales                   March
    1400  U.S.         Richmond Fed composite index     April

 (Reporting by Swati Verma in Bengaluru; editing by Richard
Pullin)
  
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below