September 25, 2017 / 12:55 AM / a month ago

PRECIOUS-Gold falls on firmer dollar, weaker Euro

    Sept 25 (Reuters) - Gold prices eased early on Monday, after
registering a second consecutive weekly fall last week, as the
U.S. dollar firmed and as the euro edged lower on political
uncertainty in Germany.
        
    FUNDAMENTALS    
    * Spot gold        dipped 0.4 percent to $1,292.40 per ounce
at 0029 GMT. It fell about 1.7 percent last week in what was its
second straight weekly fall. 
    * U.S. gold futures         for December delivery fell 0.2
percent to $1,295.30 per ounce. 
    * The euro slipped in early Asian trading on Monday after
Germany's election showed surging support for a far-right party
that left Chancellor Angela Merkel scrambling to form a
governing coalition.       
    * Merkel won a fourth term in office on Sunday but Europe's
most powerful leader will have to govern with a far less stable
coalition in a fractured parliament after her conservatives
haemorrhaged support to a surging far right.             
    * U.S. President Donald Trump dialled up the rhetoric
against North Korea again at the weekend, warning the country's
foreign minister that he and leader Kim Jong Un "won't be around
much longer", as Pyongyang staged a major anti-U.S. rally.
            
    * Trump on Sunday slapped new travel restrictions on
citizens from North Korea, Venezuela and Chad, expanding the
list of countries covered by his original travel bans that have
been derided by critics and challenged in court.             
    * U.S. trade negotiators will only partially unveil new text
on modifying a key chapter on investment under NAFTA, two
well-placed sources said on Sunday, underlying the cautious pace
of talks that are supposed to wrap up by the end of the year.
            
    * Iran will strengthen its missile capabilities and not seek
any country's permission, President Hassan Rouhani said on
Friday rejecting demands from Trump.             
    * A proposal by U.S. Republicans to repeal and replace the
Obamacare health insurance program suffered serious new setbacks
within the party on Sunday, when Senator Ted Cruz expressed his
opposition and Senator Susan Collins dug in with strong
criticism of the legislation.             
    * Holdings at the SPDR Gold Trust GLD, the world's largest
gold-backed exchange-traded fund, rose 0.45 percent to 856.08
tonnes on Friday from 852.24 tonnes on Thursday.          
    
    DATA AHEAD (GMT) 
     0800  Germany Ifo business climate            Sep 
     1230  U.S.    National activity index         Aug 
     1430  U.S.    Dallas Fed manufacturing index  Sep 

 (Reporting by Nithin Prasad in Bengaluru; Editing by Richard
Pullin)
  

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