November 20, 2019 / 2:29 AM / a month ago

PRECIOUS-Gold rises as Sino-U.S. trade, Hong Kong tensions escalate

    Nov 20 (Reuters) - Gold prices rose on Wednesday on
heightened worries that a Sino-U.S. trade deal could hit a snag
after President Donald Trump threatened fresh tariffs on Beijing
and as the U.S. Senate passed a bill supporting Hong Kong
anti-government protesters.
    
    FUNDAMENTALS
    * Spot gold        rose 0.2% to $1,474.42 per ounce at 0144
GMT. 
    * U.S. gold futures         was little changed at $1,474.80
per ounce.
    * The United States would raise tariffs on Chinese imports
if no deal is reached with Beijing to end a trade war, Trump
said on Tuesday.             
    * The U.S. Senate, in a unanimous vote, passed legislation
on Tuesday aimed at protecting human rights in Hong Kong amid
China's crackdown on a pro-democracy protest movement that has
gripped the vital financial centre for months. The move was
condemned by Beijing.                          
    * Anti-government protesters holed up in a Hong Kong
university searched for escape routes on Tuesday after more than
two days of clashes with police, dramatic breakouts by rope and
motorcycle and more than 1,000 arrests in 24 hours.             
    * Asian shares lumbered lower on Wednesday as the trade
talks produced nothing but a stream of conflicting messages.
           
    * The dollar and the safe-haven yen found support as a lack
of clarity on the talks kept investors cautious ahead of the
release of minutes from the U.S. Federal Reserve's last policy
meeting.       
    * Wall street got hit on Tuesday after senior U.S. officials
told impeachment investigators in Congress that they were
concerned by President Trump's effort to get Ukraine to
investigate a political rival, with one White House official
calling it a "shock."             
    * The U.S. Fed has interest rates at the appropriate level
for the U.S. economy but risks to the economic outlook are still
tilted downwards, New York Fed President John Williams said on
Tuesday.             
    * Elsewhere, silver        edged up 0.1% to $17.15 per
ounce, palladium        fell 0.3% to $1,757.46 per ounce and 
platinum        declined 0.3%, to $907.72 per ounce.
    
DATA/EVENTS (GMT)
0700  Germany  Producer Prices MM, YY   Oct
1900  US       Federal Open Market Committee will release 
               the minutes from its October 29-30 policy meeting

 (Reporting by Diptendu Lahiri in Bengaluru; editing by
Uttaresh.V)
  
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