November 15, 2019 / 1:58 AM / a month ago

REFILE-PRECIOUS-Gold falls as U.S.-China trade pact hopes spur risk appetite

 (Refile to insert dropped word "spur" in headline)
    Nov 15 (Reuters) - Gold prices fell on Friday as investors'
risk appetite was whetted by comments from White House economic
adviser Larry Kudlow that the United States is nearing an
interim trade pact with China.
    
    FUNDAMENTALS
    * Spot gold        declined 0.24% to $1,467.44 per ounce by
0117 GMT, but was still set to rise more than 0.6% this week. 
    * U.S. gold futures        were down 0.4% at $1,468.20 an
ounce.
    * The United States is getting close to a trade agreement
with China, White House economic adviser Larry Kudlow said on
Thursday, citing what he called very constructive discussions
with Beijing.             
    * The world's two largest economies were in close touch via
telephone, Kudlow said, adding an agreement could come soon.
    * Early in the Asian trading day, MSCI's broadest index of
Asia-Pacific shares outside Japan                 was up 0.16%.
           
    * Gold prices have gained more than 14% this year on
uncertainties over the months-long China-U.S. trade war, which
has roiled financial markets and prompted fears of a global
economic slowdown.
    * Global sentiment has been hit in recent weeks by
conflicting assessments of progress in talks aimed at ending the
two countries' trade spat.
    * However, a Reuters poll of economists showed a permanent
truce is unlikely over the coming year, and, while concerns have
eased over a U.S. recession, an economic rebound is also not
expected soon.             
    * Also weighing on the precious metal was Thursday's data
showing that the German economy narrowly avoided an expected
slip into recession in the third quarter, as consumers, state
spending and construction drove a 0.1% quarterly expansion in
Europe's largest economy.
    
DATA/EVENTS (GMT)
1000   EU   HICP Final MM, YY         Oct
1100   EU   Reserve Assets Total      Oct
1330   US   Retail Sales MM           Oct
1415   US   Industrial Production MM  Oct
    

 (Reporting by Diptendu Lahiri in Bengaluru; Editing by Clarence
Fernandez and Subhranshu Sahu)
  
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