Feb 15 Gold prices edged lower on Wednesday on
an uptick in the dollar after U.S. Federal Reserve Chair Janet
Yellen hinted at a hike in interest rates in an upcoming meeting
of the central bank.
* Spot gold fell 0.24 percent, to $1,225.20 per ounce
at 0046 GMT, while U.S. gold futures were up 0.11
percent, to $1,226.7.
* The Federal Reserve will likely need to raise interest
rates at an upcoming meeting, Yellen said on Tuesday, although
she flagged considerable uncertainty over economic policy under
the U.S. President Donald Trump's administration.
* The dollar index was up 0.06 percent at 101.31,
near the 3-1/2-week high of 101.38 hit on Tuesday following
* Yellen, in response to a warning from a U.S. congressman
to halt global regulatory talks in the early stages of Trump's
presidency, said in a letter the Fed has the authority and
responsibility to consult with its foreign counterparts and does
so to benefit the United States.
* Holdings of the largest gold-backed exchange-traded-fund
(ETF), New York's SPDR Gold Trust GLD, rose 0.50 percent on
Monday from Friday.
* The world's largest physically-backed gold fund said on
Wednesday it has been certified as sharia compliant, the latest
effort aimed at spurring demand for bullion from investors
across majority-Muslim countries.
* Soros Fund Management LLC got out of gold in the fourth
quarter of 2016 while Paulson & Co reduced its stake in SPDR
Gold Trust GLD.P, as bullion prices saw their weakest quarterly
performance in 3-1/2 years, regulatory filings showed on
* U.S. producer prices recorded their largest gain in more
than four years in January amid increases in the cost of energy
products, but a strong dollar continued to keep underlying
inflation at the factory gate tame.
* Optimism about the strength of the euro zone economy took
a hit on Tuesday as data showed lower-than-expected growth,
possibly caused by weaker global trade as protectionist calls
DATA AHEAD GMT
1000 Euro zone Eurostat trade Dec
1330 U.S. Consumer prices Jan
1330 U.S. New York Fed manufacturing Feb
1330 U.S. Retail sales Jan
1415 U.S. Industrial production Jan
1500 U.S. Business inventories Dec
1500 U.S. NAHB housing market index Feb
1500 Federal Reserve Chair Janet Yellen delivers semiannual
monetary testimony before the House Financial Services Committee
(Reporting by Arpan Varghese in Bengaluru; Editing by Michael