November 28, 2019 / 2:08 AM / 18 days ago

PRECIOUS-Gold gains as U.S. bill backing HK protesters fuels trade deal doubts

    Nov 28 (Reuters) - Gold rose on Thursday as investors bought
the safe-haven metal amid new doubts about whether the United
States and China will sign a trade deal after President Donald
Trump signed legislation supporting protesters in Hong Kong,
irking Beijing.
                             
    FUNDAMENTALS
    * Spot gold        was up 0.2% to $1,457.60 per ounce by
0132 GMT. U.S. gold futures        rose 0.2% to $1,456.30.
    * Palladium        shed 0.5% to $1,824 per ounce, giving up
some gains after hitting an all-time peak at $1,836.61 on a
supply deficit. 
    * Asian share markets wobbled, while the safe-haven yen rose
against the dollar, after Trump's move to sign into law
congressional legislation backing Hong Kong protesters fuelled
concern that efforts to end the long-running trade dispute
between the world's two biggest economies could become more
complicated.                               
    * U.S. economic growth picked up slightly in the third
quarter, while the number of Americans filing applications for
unemployment benefits fell last week.                           
 
    * New orders for key U.S.-made capital goods increased by
the most in nine months in October and shipments rebounded,
suggesting some stabilization in business investment.             
    * China will speed up reforms to help build a market-based,
globalised business environment and break investment barriers
for all kinds of companies, Premier Li Keqiang was quoted as
saying during a Cabinet meeting on Wednesday.             
    * Japan's retail sales tumbled at their fastest pace in more
than 4-1/2 years in October as a sales tax hike prompted
consumers to cut spending.             
    * Platinum        was up 0.2% to $894.24 and silver       
rose 0.3% to $17 per ounce.

    
DATA/EVENTS (GMT)
0030  Australia   Capital Expenditure       Q3
1000  EU          Consumer Confid. Final    Nov
1100  Brazil      IGP-M Inflation Index     Nov
1300  Germany     CPI Prelim YY             Nov
1300  Germany     HICP Prelim YY            Nov

 (Reporting by Sumita Layek in Bengaluru; Editing by Kenneth
Maxwell)
  
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