for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

PRECIOUS-Gold steady after dovish Fed comments

Sept 13 (Reuters) - Gold edged higher early on Tuesday after
a top Federal Reserve official quelled expectations of a U.S.
interest rate hike next week.

    FUNDAMENTALS
    * Spot gold was up about 0.2 percent at $1,328.52 an
ounce by 0056 GMT. 
    * U.S. gold futures were up 0.5 percent at $1,332.40
an ounce.
    * The Fed should avoid removing support for the U.S. economy
too quickly, Board Governor Lael Brainard said on Monday in
comments that solidified the view the central bank would leave
interest rates unchanged next week. 
    * Traders trimmed their odds for a September rate hike to 15
percent from 24 percent on Friday, according to CME Group.
    * The U.S. dollar fell against a basket of major rivals on
Monday after Brainard's comments, while speculation of a
less-accommodative Bank of Japan boosted the yen. 
    * Big Japanese manufacturers turned optimistic in the third
quarter and companies revised up their capital expenditure plans
in a sign the economy is gaining momentum. 
    * Barrick Gold Corp, the world's biggest gold
producer, said on Monday it would partner with Cisco Systems
 to incorporate digital technology in all aspects of its
mining business, aiming to improve productivity and reduce
costs. 
    * Johannesburg-listed miner Gold Fields said on Monday that
an employee at the South Deep mine in South Africa was killed in
an accident on Saturday following a seismic event. The
management of the mine immediately suspended all so-called
destress mining activities and notified the Department of
Mineral Resources, it said. 
    * For the top stories on metals and other news, click
 or 
    
    MARKET REPORT
    * Asian stocks rose early on Tuesday, boosted as Wall Street
rallied overnight. 
    * Oil prices ended nearly 1 percent higher on Monday as a
softer dollar and the stronger U.S. equity markets helped crude
futures rebound from an early drop pressured by worries about
increased drilling activity in the United States. 
    
    DATA/EVENT AHEAD (GMT)
    0900 Euro Zone Employment Q2
    1000 U.S. NFIB Business Optimism Aug
    1255 U.S. Redbook weekly

 (Reporting by Swati Verma in Bengaluru; Editing by Joseph
Radford)
for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up