BENGALURU, April 27 (Reuters) - Gold prices languished near
five-week lows on Friday, set for a weekly decline of more than
1 percent on a stronger dollar, higher U.S. Treasury yields and
easing geopolitical concerns.
FUNDAMENTALS
* Spot gold was steady at $1,317.03 an ounce at 0042
GMT, not far from a low of $1,315.06 an ounce hit in the
previous session - its weakest since March 21.
* The metal was on track to fall over 1 percent this week,
its second consecutive weekly drop and biggest decline in four
weeks.
* U.S. gold futures were unchanged at $1,318 an
ounce.
* The dollar index was steady near a 3-1/2 month peak
hit on Thursday, supported by strong U.S. economic data and the
U.S. 10-year bond yield, which earlier this week hit its highest
level since early 2014.
* Smiling and holding hands, North Korean leader Kim Jong Un
and South Korean President Moon Jae-in met at the heavily
fortified demilitarised zone between the countries on Friday in
the first summit for the two Koreas in over a decade.
* Japan's central bank is set to keep monetary policy steady
on Friday and project inflation to hit its target next fiscal
year.
* European Central Bank chief Mario Draghi played down
concerns over softness in the euro zone economy on Thursday as
the ECB sought to bolster expectations for a gradual withdrawal
of the ECB's monetary stimulus.
* Banks and brokerages expect a largely flat gold market
over the rest of 2018 after a stubbornly uneventful few months,
a Reuters poll showed on Thursday.
* The rally in palladium is tipped to lose steam in the
years to come as appetite for the metal abates after its surge
to record highs, another Reuters poll showed on Thursday.
* South African platinum producer Impala Platinum (Implats)
said on Thursday its Marula mine was rebounding
strongly and ramping up production.
* Canadian miner Agnico Eagle Mines Ltd on Thursday
said it sold some gold interests in the United States.
* U.S. Gold miner Newmont Mining Corp reported a
higher-than-expected quarterly profit on Thursday.
* China's net gold imports via main conduit Hong Kong jumped
78.67 percent in March from the previous month, data showed on
Thursday.
DATA AHEAD (GMT)
0530 France Preliminary GDP Q1
0600 Germany Import prices March
0645 France Consumer spending March
0800 Germany Unemployment rate April
0900 Euro zone Business climate April
1230 U.S. Advance GDP Q1
1230 U.S. Employment costs Q1
(Reporting by Swati Verma in Bengaluru
Editing by Joseph Radford)
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