July 25, 2018 / 1:17 AM / 3 months ago

PRECIOUS-Gold prices edge up on softer dollar

    BENGALURU, July 25 (Reuters) - Gold prices inched higher
early on Wednesday as the greenback  softened while investors
awaited U.S. economic growth data due later this week.
               
    FUNDAMENTALS  
    * Spot gold        was 0.2 percent higher at $1,226.13 an
ounce at 0051 GMT.
    * U.S. gold futures         for August delivery were up 0.1
percent at $1,226.10 an ounce.    
    * The dollar index       , which measures the greenback
against a basket of six major currencies, was trading 0.1
percent lower at 94.547.       
    * The second-quarter U.S. economic growth data is due on
Friday. Market watchers largely expect growth to top current
forecasts of 4.1 percent. 
    * A now-robust U.S. economy will soon lose momentum on
rising interest rates and escalating trade disputes, according
to economists polled by Reuters who nonetheless gave just a
one-in-three chance of a recession over the next two years.
            
    * The Trump administration on Tuesday said it will use a
Great Depression-era programme to pay up to $12 billion to help
U.S. farmers weather a growing trade war with China, the
European Union and others that the president began.             
    * The revamp of the North American Free Trade Agreement
(NAFTA) between the United States, Mexico and Canada ought to be
concluded in the next few months, a top adviser in the incoming
Mexican administration said on Tuesday.             
    * Republicans who control the U.S. Congress are hesitating
to advance tough new Russia sanctions legislation as fears of
damage to American companies slow efforts to quickly send Moscow
a message against meddling in the next U.S. election.
            
    * Euro zone business growth slowed more than expected this
month as fears over a trade war with the United States and a
weaker global expansion put another dent in optimism, a survey
showed on Tuesday.             
    * German Foreign Minister Heiko Maas said in a media
interview published on Wednesday that the British government
needs to get moving in Brexit negotiations, including on the
Northern Ireland border issue.             
    * China will adopt a more vigorous fiscal policy to help
tackle external uncertainties without resorting to strong policy
stimulus, state radio said on Monday, citing the cabinet.
            
    * Japanese government bond prices reversed earlier gains on
Tuesday, with investors unable to shake concerns the central
bank might be a step closer to unwinding its aggressive monetary
stimulus.             
    * Russia's largest gold producer Polyus           said on
Tuesday its gold sales in the second quarter were up 12 percent
from the previous quarter and stood at $683 million.
            

 (Reporting by Karen Rodrigues in Bengaluru; Editing by
Subhranshu Sahu)
  
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