June 2, 2020 / 1:52 AM / a month ago

PRECIOUS-Gold edges lower as economies open up

    June 2 (Reuters) - Gold prices inched lower on Tuesday on
signs of economic recovery as more countries ease lockdown
curbs, while protests in the United States, Sino-U.S. tensions
and a weaker dollar limited losses.
    * Spot gold        was down 0.1% at $1,738.12 per ounce, as
of 0110 GMT. U.S. gold futures        rose 0.2% to $1,753.70.
    * In a sign that the worst of the economic downturn from the
coronavirus pandemic might be over, U.S. manufacturing activity
ticked up slightly from a 11-year low.             
    * China's factory activity unexpectedly returned to growth
in May as restrictions eased, but the improvement was marginal
as export orders continued to shrink, a survey showed.
    * U.S. President Donald Trump vowed to end unrest in major
cities across the nation "now," and stated he would deploy the
military if state governors refused to call out the National
    * The protests started over the death of George Floyd, a
46-year-old African American, who died in police custody; and
the closely packed crowds have sparked fears of a resurgence of
COVID-19, which has killed more than 104,000 Americans.
    * The U.S. is considering welcoming people from Hong Kong in
response to Beijing's push to impose a national security
legislation in the city, U.S. Secretary of State Mike Pompeo
    * The dollar        hovered near an over two-month low
reached on Friday.       
    * Gilead's          antiviral drug remdesivir provided a
modest benefit in patients with moderate COVID-19 given a
five-day course of the treatment, while those who received a
10-day course did not fare as well.             
    * Reflecting investor sentiment, SPDR Gold Trust      , the
world's largest gold-backed exchange-traded fund, said its
holdings, rose 0.5% to 1,128.40 tonnes on Monday.             
    * Palladium        rose 0.2% to $1,964.87 per ounce, and
platinum        was up 0.3% to $850.19, while silver fell 0.5%
to $18.17.

0430   Australia   RBA Cash Rate                   June
0600   UK          Nationwide House Prices MM, YY  May

 (Reporting by Harshith Aranya in Bengaluru; Editing by Shailesh
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