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PRECIOUS-Gold inches lower as U.S. dollar steadies
September 26, 2017 / 12:57 AM / in 22 days

PRECIOUS-Gold inches lower as U.S. dollar steadies

    Sept 26 (Reuters) - Gold edged lower early Tuesday on a
firmer U.S. dollar, but held not far off levels touched in the
previous session when it rose more than 1 percent on
geopolitical tensions over the Korean peninsula.  
        
    FUNDAMENTALS    
    * Spot gold        fell 0.1 percent to $1,308.90 per ounce
at 0038 GMT. In the previous session, it rose over 1 percent to
register its biggest intra-day percentage gain since Sept. 7.
    * U.S. gold futures         for December delivery rose 0.1
percent to $1,312.60 per ounce.
    * The U.S. dollar rose against a basket of six currencies on
Monday, with the euro hit by election results in Germany and
investor jitters about a warning against hasty policy shifts by
the European Central Bank president.           
    * Germany's Angela Merkel began the tough task of trying to
build a government on Monday after securing a fourth term as
chancellor, urging the centre-left Social Democrats not to shut
the door on a re-run of their "grand coalition".                
    * North Korea's foreign minister said on Monday President
Donald Trump had declared war on North Korea and that Pyongyang
reserved the right to take countermeasures, including shooting
down U.S. bombers even if they are not in its air space.
            
    * Stocks fell on Wall Street and U.S. government bond yields
dropped after North Korea accused the United States of having
declared war on the isolated country, while the euro fell after
German elections showed support for Chancellor Angela Merkel's
conservative party fell to its lowest since 1949.            
    * A last ditch Republican effort to repeal Obamacare
appeared doomed late on Monday after Senator Susan Collins
became the third Republican senator to announce opposition to
the bill.             
    * Japanese Prime Minister Shinzo Abe said he would dissolve
parliament's lower house on Thursday for a snap election,
seeking a mandate to stick to his tough stance towards a
volatile North Korea and rebalance the social security system.
            
    * Minneapolis Fed President Neel Kashkari said on Monday
that he sees no need for the U.S. Federal Reserve to raise
interest rates further as he sees no evidence recent weak
inflation data is set to improve.             
    
     DATA/EVENT AHEAD (GMT) 
     0600  Germany   Import prices                Aug 
     0645  France    Business climate             Sep 
     1300  U.S.      Case-Shiller housing index   July 
     1400  U.S.      Consumer confidence          Sep 
     1400  U.S.      New home sales               Aug 
     1645  Fed Chair Janet Yellen speaks at Ohio event 

 (Reporting by Nithin Prasad in Bengaluru; Editing by Richard
Pullin)
  

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