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PRECIOUS-Gold up as U.S. rate hike expectations cool

Aug 16 (Reuters) - Gold rose for a second day on Tuesday on
lower expectations that the U.S. Federal Reserve will raise
interest rates this year due to mixed macro economic signals
from the world's largest economy.
    
    FUNDAMENTALS
    * Spot gold was up 0.5 percent at $1,345.68 an ounce
at 0100 GMT. The metal rose 0.2 percent on Monday.
    * U.S. gold rose 0.3 percent to $1,351 an ounce.
    * The greenback was put on the defensive after
weaker-than-expected U.S. data on Friday dented prospects of a
near-term rate hike the Fed. 
    * Central bankers and governments must come up with new
policies to buffer their economies against persistently low
interest rates that threaten to make future recessions deeper
and more difficult to avoid, San Francisco Fed President John
Williams said. 
    * The Bank of Japan's policy review could put up for debate
its target for expanding base money through massive asset
purchases. 
    * British employers have turned more cautious about hiring
and the price of homes for sale fell by the most since late
2015, according to surveys that added to signs the economy has
stumbled since the Brexit referendum. 
    * Soros Fund Management LLC sharply cut its shares in gold
in the second quarter, when bullion prices rose to two-year
highs, regulatory filings with the U.S. Securities and Exchange
Commission showed on Monday. 
    * New York-based Paulson & Co, led by John Paulson, kept its
stake in SPDR Gold Trust unchanged in the second quarter at 4.78
million shares worth $603.9 million. 
    * Jana Partners dissolved its share stake in the world's
biggest gold exchange-traded fund (ETF) in the second quarter of
2016 as bullion prices rose to two-year highs, U.S. Securities
and Exchange Commission filings showed on Monday. 
    * For the top stories on metals and other news, click  
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    MARKET REPORT
    * Asian shares rose to one-year highs, extending their gains
so far this year to almost 10 percent, helped by a jump in oil
prices and investor expectations of continued easy monetary
policy around the globe. 
    
    DATA AHEAD (GMT)0830 Britain Consumer prices July 
    0900 Germany ZEW economic sentiment August 
    1230 U.S. Consumer prices July 
    1230 U.S. Housing starts July 
    1230 U.S. Building permits July 
    1315 U.S. Industrial output July

 (Reporting By Nallur Sethuraman in Bengaluru; Editing by
Richard Pullin)
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