April 2, 2018 / 1:33 AM / in 3 months

PRECIOUS-Gold rises on softer dollar, fresh trade worries

    BENGALURU, April 2 (Reuters) - Gold prices rose on Monday
after three consecutive sessions of falls as the dollar eased
amid fresh concerns of trade tensions between the United States
and China.
    
    FUNDAMENTALS  
    * Spot gold        was up 0.3 percent at $1,327.71 per ounce
as of 0105 GMT.
    * Gold fell 1.7 percent last week in its biggest weekly drop
since the week ended Dec. 8, 2017, but climbed 1.7 percent in
January-March in its third straight quarterly gain.  
    * U.S. gold futures         rose 0.4 percent to $1,332.10 an
ounce.
    * The dollar index       , which measures the greenback
against six other major currencies, eased 0.3 percent to 89.928.
    * China has slapped extra tariffs of up to 25 percent on 128
U.S. products including frozen pork, as well as wine and certain
fruits and nuts, in response to U.S. duties on imports of
aluminium and steel, the country's finance ministry said.
            
    * U.S. President Donald Trump said on Thursday he may hold
up a trade agreement reached with South Korea until after a deal
is reached with North Korea on denuclearization.             
    * Russia expelled 60 U.S. diplomats on Thursday and
announced it would eject scores from other countries that have
joined London and Washington in censuring Moscow over the
poisoning of a spy.             
    * Hedge funds and money managers upped their net long
position in COMEX gold contracts in the week to March 27, U.S.
Commodity Futures Trading Commission data showed on Friday.
       
    * Gold discounts in India narrowed last week on an
improvement in demand for weddings and hopes that retail
purchases will rise next month on account of a key festival,
while demand in the rest of Asia remained subdued due to higher
prices.         
    * International mining firms including Glencore          and
Randgold         on Thursday proposed a sliding scale for
royalty rates on key commodities mined in Democratic Republic of
Congo as an alternative to a windfall tax.             
    * Goldcorp Inc               made the first gold deposit on
Tradewind Markets' new digitized trading platform, the companies
said on Thursday, with 3,000 ounces of bullion from its Red Lake
mine complex in Ontario.             
    * South Africa's Gold Fields          will buy a near 50
percent share of Asanko Gold Inc's          Ghana subsidiary and
take a stake in the Canadian miner in a $202.6 million deal, it
said on Thursday.             
    * Canada's Eldorado Gold Corp         ,         filed a new
technical report for its contentious Skouries gold mine project
in Greece on Thursday, which said it "significantly" reduces the
development's environmental footprint.             

 (Reporting by Swati Verma in Bengaluru; Editing by Subhranshu
Sahu)
  
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