(Recasts, adds analyst comment, updates prices)
* 'Phase One' U.S.-China trade deal may not be completed
* Fed minutes from October meeting show rates on hold
By Karthika Suresh Namboothiri and Brijesh Patel
Nov 20 Gold held steady on Wednesday in the wake
of the release of the minutes from the U.S. Federal Reserve's
October meeting, while report of a delay in U.S.-China "phase
one" trade deal offered support to the safe-haven metal.
The minutes showed the central bank remains on hold with
regard to the direction of interest rates, as an increasingly
divided Fed offered little guidance on what would cause
policymakers to change their minds on the outlook.
Spot gold was mostly unchanged at $1,471.90 per ounce
as of 03:20 p.m. ET (2020 GMT).
U.S. gold futures settled unchanged at $1,474.20.
"We had news on U.S.-China trade deal, which pushed gold
positive before the minutes. This might be the new information
that the Fed has not taking into account probably voided out
what they said in the minutes," said Bob Haberkorn, senior
market strategist at RJO Futures.
"Had that U.S.-China news not come out before the Fed
announcements, gold would have been at least $10-$15 down. Right
now the market wants more information on U.S.-China trade to
move in either direction," he added.
Reuters reported that completion of an initial U.S.-China
trade deal could slide into next year as Beijing presses for
tariff rollbacks. It cited trade experts and people close to the
Earlier in the session, the U.S. Commerce Department
confirmed it has begun issuing licenses for some U.S companies
to supply non-sensitive goods to Huawei.
"Gold price action lately has been nearly formulaic: the
market starts to lean one way, gets disappointed in the price
action, and a contrary headline gives it a shove in the opposite
direction," said Tai Wong, head of base and precious metals
derivatives trading at BMO.
The mood in markets had been sour after the U.S. Senate
angered China by passing a bill requiring annual certification
of Hong Kong's autonomy and warning Beijing against violently
suppressing protesters. China demanded the United States stop
interfering in its internal affairs and said it would retaliate.
U.S. President Donald Trump also threatened to raise tariffs
on Chinese goods if a trade deal is not reached soon.
Uncertainty surrounding the "phase one" trade deal prompted
world stocks to fall from a 22-month peak, with Wall Street
firmly in the red.
Elsewhere, silver was up 0.1% to $17.15 an ounce,
while platinum gained 0.8% to $917.10. Palladium was up
0.2% to $1,767.24.
(Reporting by Karthika Suresh Namboothiri and Brijesh Patel in
Bengaluru; Editing by Andrea Ricci and Nick Zieminski)
* Markets await Fed minutes due Wednesday
* Wall Street back off from record highs
* U.S. grants extension for companies to do business with
By Karthika Suresh Namboothiri
Nov 19 Gold on Tuesday pared losses to scale a
one-week peak as Wall Street eased from record highs on U.S.
political uncertainties and somber earnings, while markets
awaited more cues on the Federal Reserve's monetary policy.
Spot gold edged up 0.3% to $1,474.65 per ounce as of
1:48 p.m. ET (1848 GMT) after touching its highest since Nov. 7.
U.S. gold futures settled 0.2% higher at $1,474.30 an
"For people trading gold they want more insight to the path
forward and where the Fed is at. With equities trading lower,
gold is getting a little bit of a lift based off that," said Bob
Haberkorn, senior market strategist at RJO Futures.
Financial markets eased as underwhelming earnings and
concerns on the ongoing impeachment inquiry against U.S.
President Donald Trump overshadowed hopes for a U.S.-China trade
Earlier in the session, Washington granted an extension for
U.S. companies to continue doing business with China's Huawei
Technologies Co Ltd , a move markets took as a sign of
progressing U.S.-China trade relations.
After adding Huawei to an economic blacklist in May, the
U.S. Commerce Department has allowed it to purchase some
American-made goods, and granted a new 90-day extension to
minimize disruption for its customers.
This prompted Wall Street to open at a record high, and
stocks globally raced to a 22-month peak and pushed bullion to
the day's low of $1,464.20.
"The fact that gold has been stable within an environment
with equity markets driving to new highs ... is a testament that
there is still interest in safe haven assets," David Meger,
director of metals trading at High Ridge Futures said,
attributing it to concerns about economic growth and lingering
doubts about a trade deal.
In the previous session, a report that Beijing was not as
optimistic about a deal, owing to Trump's reluctance to roll
back tariffs, had pushed gold into positive territory.
However, assumptions that a "phase one" trade deal could be
reached soon outweighed any creeping doubts, with gold shedding
about 2.5% so far this month.
Market participants were now awaiting the minutes from the
Fed's latest policy meeting, where the U.S. central bank had cut
interest rates for the third time this year.
Other precious metal prices rose, with silver gaining
0.8% to $17.16 per ounce, platinum rose 1.8% to $910.15
and palladium climbed 1.9% to $1,770.44 an ounce.
(Reporting by Karthika Suresh Namboothiri and K. Sathya
Narayanan in Bengaluru; Editing by Richard Chang and Lisa
* Markets await Fed minutes due on Wednesday
* Platinum climbs for fourth straight session
By Karthika Suresh Namboothiri
Nov 18 Gold edged up on Monday, erasing losses
from earlier in the session as fresh doubts over a U.S.-China
trade deal pushed Wall Street into the red.
Spot gold was up 0.3% at $1,471.92 per ounce as of
01:51 p.m. ET (1851 GMT), reversing course from earlier when
prices fell to as low as $1,455.87 on optimism constructive
trade talks had taken place between the world's two largest
economies over the weekend.
U.S. gold futures settled up 0.2% at $1,471.90 per
However, a report that Beijing was not as optimistic, owing
to U.S. President Donald Trump's reluctance to roll back
tariffs, threw cold water over market cheer and on worldwide
stock markets that were near record levels.
"I am surprised how robustly the market reacts (to news on
the trade talks). This isn't the first time we have had this
news, but the market keeps responding," said Bart Melek, head of
commodity strategies at TD Securities, adding the report on
pessimism from Beijing has triggered a rebound in gold prices.
"It looks like gold is seeking a move towards $1,480, which
is the 100-day moving average."
The 16-month long Sino-U.S. tariff war has fanned
recessionary fears, but recent optimism over a phase one deal
had driven a rally in equity markets.
Gold is considered an attractive investment during times of
political or economic uncertainty. It is highly sensitive to
interest rates, as lower rates reduce the opportunity cost of
holding the non-yielding bullion.
Market participants now await minutes of the U.S. Federal
Reserve's last policy meeting, due on Wednesday, for clues about
the future interest rate trajectory.
Investors also kept a close eye on developments in Hong
Kong, as police on Monday trapped hundreds of protesters inside
a major university and demonstrators rampaged through a tourist
Among other metals, silver gained 0.6% to $17.04 an
ounce, while palladium rose 2% to $1,739.60 an ounce.
Platinum was up 0.5% at $893.74, extending gains for a
fourth straight session.
(Reporting by Karthika Suresh Namboothiri in Bengaluru; Editing
by Steve Orlofsky, Chris Reese and Richard Chang)
* Activity muted in China, premiums little changed at
BENGALURU Indian rice export prices extended losses for a second week as the rupee weakened and demand from Africa remained low, while a cyclone damaged paddy fields in neighbouring Bangladesh.
Nov 13 Gold prices gained on Wednesday on lack
of clarity on the U.S.-China trade negotiations, keeping markets
wary about the tariff war's toll on the health of the global
Gold prices eased on Tuesday as expectations of positive trade talks between the United States and China bolstered risk appetite, while investors booked profits.
Nov 12 Gold prices eased on Tuesday as
expectations of positive trade talks between the United States
and China bolstered risk appetite, while investors booked
Nov 11 Gold prices rose on Monday on fresh
doubts over whether China and the United States can strike a
trade deal, while a sluggish start to the week in equities
weighed on risk appetite after violent weekend protests in Hong
* Palladium eyes fourth consecutive weekly rise
(Adds comment, details, updates prices)