May 31, 2018 / 1:12 AM / in 6 months

PRECIOUS-Gold prices edge higher as the dollar slips

    BENGALURU, May 31 (Reuters) - Gold prices edged up early on
Thursday, as the dollar eased from 6-1/2 month highs hit earlier
this week on a weaker-than-expected U.S. economic data, with
prices further supported by concerns about the trade war.
   
    FUNDAMENTALS  
    * Spot gold        rose 0.2 percent to $1,303.30 per ounce
by 0053 GMT.
    * U.S. gold futures         for June delivery were
0.2-percent higher at $1,304.30 per ounce.
    * The dollar index       , which measures the greenback
against a basket of six major currencies, fell 0.1 percent to
94.070. It touched a 6-1/2 month high at 95.025 on Tuesday.
      
    * U.S. economic growth slowed slightly more than initially
thought in the first quarter as consumer spending rose at its
weakest pace in nearly five years.             
    * China lashed out on Wednesday at renewed threats from the
White House on trade, warning that it was ready to fight back if
Washington was looking for a trade war.             
    * The United States will announce plans to impose tariffs on
steel and aluminium from the European Union, possibly as early
as Thursday, the Wall Street Journal reported on Wednesday,
citing people familiar with the matter.             
    * Italy's two main anti-establishment parties could yet form
a government, after the man nominated as interim prime minister
said politicians, rather than technocrats like himself, might be
able to steer the country out of deadlock.             
    * A senior North Korean official made a rare visit to the
United States on Wednesday for talks about a possible summit
between the leaders of the two countries.             
    * South Africa's Gold Fields          is setting aside
pursuit of new acquisitions for a year as it focuses on its
existing operations and nearby prospects instead, the bullion
producer's chief executive told Reuters late on Tuesday.
            
    * Gold mining giants in Ghana such as Newmont        , Gold
Fields          and AngloGold Ashanti          welcome new
government tests to certify the value of their exports, the main
industry association said on Wednesday.             
    * Canadian miner Bear Creek Mining Corp         will likely
make a public offering for its Peruvian unit on the bourse in
Lima to help finance its $550 million Corani silver project, the
company's chief financial officer said on Wednesday.
            
    
    DATA AHEAD (GMT)

    0100  China        Official manufacturing PMI    May
    0100  China        Official services PMI         May
    0645  France       Producer prices               April
    0900  Euro zone    Unemployment rate             April
    1230  U.S.         Personal income               April
    1230  U.S.         Weekly jobless claims
    1400  U.S.         Pending homes sales           April
    1345  U.S.         Chicago PMI                   May

 (Reporting by Karen Rodrigues 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