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PRECIOUS-Gold prices climb on Trump uncertainty, Brexit concerns

Jan 16 (Reuters) - Gold prices edged up on Monday, supported
by safe-haven demand due to uncertainty over U.S. policy ahead
of President-elect Donald Trump's inauguration and amid concerns
over Britain's exit from the European Union.
    
    FUNDAMENTALS
    * Spot gold had risen 0.4 percent to $1,202 per ounce
by 0036 GMT. 
    * U.S. gold futures were up 0.5 percent at $1,201.80
per ounce.
    * Prime Minister Theresa May on Tuesday will call on Britons
to reject the acrimony of the Brexit referendum in a speech that
some newspapers have billed as setting the stage for a "hard"
exit from the EU. 
    * All eyes will be on Trump's inauguration on Friday for any
clarity on his economic plans. 
    * Investors have been enticed into gold this month as
questions over Federal Reserve policy and the Trump
administration drive a bigger than usual January bounce in a
beaten-down market. 
    * Inflation, industrial production and housing data dominate
a holiday-shortened week in the United States. The reports are
expected to show the economy ended 2016 with strong momentum.
    * The U.S. Labor Department is expected to report on
Wednesday that consumer prices increased 0.3 percent in December
after rising 0.2 percent in November. The core CPI is forecast
rising 0.2 percent after a similar increase in November.
 
    * Fed Chair Janet Yellen will have an opportunity to lay out
her thinking with speeches on monetary policy on both Wednesday
and Thursday this week.
    * Hedge funds and money managers in the week to Jan. 10
raised their net long position in COMEX gold contracts for the
first time in nine weeks, U.S. Commodity Futures Trading
Commission (CFTC) data showed on Friday. 
    * Physical gold sales eased in Asia last week as steadily
higher prices kept buyers on the sidelines and premiums remained
mostly unchanged across the continent. 
    * Holdings of SPDR Gold Trust, the world's largest
gold-backed exchange-traded fund, rose 0.37 percent to 807.96
tonnes on Friday from Thursday. 
    * Gold miner Acacia Mining Plc said on Friday it
was in early talks about a possible merger with Canadian gold
miner Endeavour Mining Corp. 
    * South Africa's Harmony Gold has brought all
employees at its Kusasalethu mine to the surface and will
restart production after an illegal sit-in of nearly 48 hours,
the bullion miner said on Friday. 
    * For the top stories on metals and other news, click
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    DATA AHEAD (GMT)  
    1000  Euro zone    Eurostat trade   November 

 (Reporting by Nallur Sethuraman in Bengaluru; Editing by Joseph
Radford)
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