November 30, 2017 / 1:09 AM / 7 months ago

PRECIOUS-Gold holds near one-week low as dollar firms

    Nov 30 (Reuters) - Gold on Thursday held near a one-week low
hit in the previous session, as the dollar firmed amid upbeat
U.S. growth data and as a likely vote neared on U.S. tax
legislation.     
            
    FUNDAMENTALS    
    * Spot gold        was little changed at $1,283.85 an ounce
at 0050 GMT. On Wednesday, it fell 0.8 percent to touch its
lowest since Nov. 22 at $1,281.90. Still, bullion is heading for
its first monthly gain since August, having risen about 1
percent for the month.
    * U.S. gold futures         were up 0.1 percent at
$1,283.10.
    * The dollar index       , which gauges the greenback
against a basket of six major rivals, was up 0.1 percent.  
    * The U.S. Senate on Wednesday took a step toward passage of
tax legislation that is a top White House priority, setting up a
likely decisive vote later this week even though it was unclear
if the bill has enough Republican support to become law.
            
    * The U.S. economy grew faster than initially thought in the
third quarter, notching its quickest pace in three years, buoyed
by robust business spending on equipment and an accumulation of
inventories.             
    * U.S. Treasury yields rose across most maturities on
Wednesday, bolstered by upbeat remarks on the economy by Federal
Reserve Chair Janet Yellen and data showing stronger than
expected U.S. economic growth for the third quarter.      
    * The United States warned the North Korean leadership that
it would be "utterly destroyed" if war were to break out, after
Pyongyang test fired its most advanced intercontinental
ballistic missile, putting the U.S. mainland within range.
            
    * OPEC and Russia look set to prolong oil supply cuts until
the end of 2018 this week while signalling that they may review
the deal when they meet again in June if the market
overheats.            
    * The EU has not yet reached a deal with Britain over the
"Brexit bill", EU officials said on Tuesday, adding that some in
Brussels were worried that progress on a cash settlment masked
differences over other issues.            
    * Three of Europe's top central banks raised warning signals
on Wednesday about the risk of financial bubbles that their
ultra-easy monetary policies are blamed for creating.
              
   
    DATA/EVENT AHEAD (GMT)
    0100  China  Official manufacturing PMI            Nov
    0100  China  Official non-manufacturing PMI        Nov
    0700  Germany Retail sales                         Oct
    0745  France  Producer prices                      Oct
    0900  Germany Unemployment rate                    Nov
    1000  Euro zone Inflation                          Nov
    1000  Euro zone Unemployment rate                  Nov      
    1330  U.S. Weekly jobless claims
    1330  U.S. Personal income                         Oct
    1445  U.S. Chicago PMI                             Nov

 (Reporting by Vijaykumar Vedala in Bengaluru; editing by
Richard Pullin)
  
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