November 24, 2017 / 1:49 AM / 23 days ago

PRECIOUS-Gold prices edge higher on weaker dollar

    Nov 24 (Reuters) - Gold prices inched up on Friday as the
dollar remained under pressure after minutes of the U.S. Federal
Reserve's meeting revealed that some policymakers were concerned
over lower inflation.     
                  
    FUNDAMENTALS    
    * Spot gold        was up 0.1 percent at $1,292.18 per
ounce, as of 0134 GMT. Bullion was down about 0.2 percent for
the week.  
    * U.S. gold futures         for December delivery were
unchanged at $1,291.80.
    * The dollar index, which tracks the U.S. unit against a
basket of six major rival currencies       , was down 0.1
percent.                   
    * Lawyers for Michael Flynn, U.S. President Donald Trump's
former national security adviser, have told Trump's legal team
they can no longer discuss a probe into Russian meddling in the
U.S. election, indicating Flynn may be cooperating with the
investigation, the New York Times reported on
Thursday.            
    * European Central Bank policymakers broadly agreed last
month on extending their asset purchase scheme but a decision to
keep the bond buys open-ended appeared to generate fiercer
debate, minutes of the meeting released on Thursday showed. 
            
    * The leader of Germany's Social Democrats came under
growing pressure on Thursday to drop his opposition to a new
"grand coalition" with Angela Merkel's conservatives, with
senior politicians arguing the party had a duty to promote
stability.             
    * Exports and rising business investments were the main
drivers of growth for the German economy in the third quarter,
data showed on Thursday, signalling that the robust upswing in
Europe's largest economy will extend well into next year. 
            
    * Euro zone business growth is roaring ahead as the year
draws to a close, surveys showed on Thursday, supporting the
European Central Bank's move last month to announce a throttling
back of its monetary stimulus.                  
    * The Irish government was on the verge of collapse on
Thursday after the party whose votes Prime Minister Leo Varadkar
depends on to pass legislation said it would seek to remove the
deputy prime minister in a breach of their cooperation
agreement.             
    * Asian shares hovered below their 10-year peak on Friday
while investors viewed Chinese shares with caution after their
big fall the previous day.             
    
    DATA/EVENT AHEAD (GMT)
    0900  Germany Ifo business climate                 Nov
    1445  U.S. Markit manufacturing PMI flash          Nov    

 (Reporting by Vijaykumar Vedala in Bengaluru; Editing by Sherry
Jacob-Phillips)
  

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