Reuters logo
PRECIOUS-Gold little changed as dollar holds losses
November 29, 2016 / 12:56 AM / a year ago

PRECIOUS-Gold little changed as dollar holds losses

Nov 29 (Reuters) - Gold steadied early Tuesday after rising
0.9 percent in the previous session, as the U.S. dollar held on
to losses after bond yields came off of their multi-month highs.
    
    FUNDAMENTALS
    * Spot gold was mostly unchanged at $1,194.11 an
ounce by 0035 GMT. The metal rose 0.9 percent and touched a high
of $1,197.54 in the previous session.
    * U.S. gold futures were up 0.3 percent at $1,193.90
per ounce.
    * The dollar index, which measures the greenback
against a basket of currencies, fell 0.21 percent at 101.120.
    * The U.S. dollar took a breather on Tuesday as global bonds
steadied from their recent rout, while equities flatlined as
political risk resurfaced in Europe ahead of a referendum in
Italy this weekend. 
    * Stalling recovery would be the greatest risk facing the
euro zone's economy, the head of the European Central Bank said
on Monday ahead of an important policy decision next week,
underscoring the ECB's focus on supporting growth. 
    * The highly uncertain outlook for Britain's economy as the
country prepares to leave the European Union means the Bank of
England should keep interest rates on hold, one of the bank's
top policymakers said on Monday. 
    * The Accounting and Auditing Organization for Islamic
Financial Institutions (AAOIFI) has approved a sharia standard
for gold-based products in a bid to expand the use of bullion in
Islamic finance. 
    * Hedge funds and money managers again cut their net long
positions in COMEX gold and silver contracts in the week to Nov.
22, U.S. Commodity Futures Trading Commission data showed on
Monday. 
    * For the top stories on metals and other news, click
 or 
    
    
  DATA AHEAD (GMT) 

     0700  Germany    Import prices                       Oct 
     0745  France     Consumer spending                   Oct 
     0745  France     Detailed GDP                        Q3 
     1300  Germany    Consumer prices                     Nov 
     1330  U.S.       GDP 2nd estimate                    Q3 
     1400  U.S.       S&P/Case-Shiller housing index      Sep 
     1500  U.A.       Consumer confidence                 Nov 

 (Reporting by Apeksha Nair in Bengaluru; Editing by Richard
Pullin)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below