September 1, 2017 / 12:55 AM / 4 months ago

PRECIOUS-Gold steady near 9-1/2 month highs as N.Korea tensions persist

    Sept 1 (Reuters) - Gold prices held steady on Friday near
9-1/2 month highs touched earlier this week as simmering
tensions over the Korean peninsula fuelled safe haven demand.
        
    FUNDAMENTALS    
    * Spot gold        was little changed at $1,321.20 per ounce
as of 0022 GMT and was on track for a weekly gain of more than 2
percent. U.S. gold futures         for December delivery were up
0.4 percent at $1,326.80.
    * U.S. consumer spending rose slightly less than expected in
July and annual inflation advanced at its slowest pace in more
than 1-1/2 years, diminishing expectations of an interest rate
increase in December.             
    * The dollar surrendered early gains against a basket of
major currencies, pressured by simmering tensions on the Korean
peninsula.                   
    * Investors are awaiting a monthly U.S. payrolls report to
be released on Friday.
    * South Korean and Japanese jets joined exercises with two
supersonic U.S. B-1B bombers above and near the Korean peninsula
on Thursday, two days after North Korea sharply raised tension
by firing a missile over Japan.             
    * The United States has told Russia to close its consulate
in San Francisco and buildings in Washington and New York that
house trade missions, the State Department said on Thursday, in
retaliation for Moscow cutting the U.S. diplomatic presence in
Russia.             
    * U.S. Treasury Secretary Steven Mnuchin said on Thursday
that Hurricane Harvey could bring forward the deadline by which
the nation's debt ceiling needs to be raised and that he is open
to the borrowing cap being dealt with as part of a wider bill.
    * GraniteShares Gold Trust        , an exchange-traded fund
(ETF), began trading on Aug. 31.             
    * The U.S. Mint sold 9,500 ounces of American Eagle gold
coins in August, down 42.4 percent from the previous month.
            
    * Greece plans to start an arbitration process next month to
settle its differences with Canada's Eldorado Gold Corp         
        over its gold mine development plans in northern Greece.
            
    
    DATA/EVENT AHEAD (GMT) 
     0145  China        Caixin manufacturing PMI final   August
     0750  France       Markit manufacturing PMI         August
     0755  Germany      Markit/BME manufacturing PMI     August
     0800  Euro zone    Markit manufacturing PMI final   August 
    
     1230  U.S.         Nonfarm payrolls                 August 
     1230  U.S.         Unemployment rate                August
     1400  U.S.         ISM manufacturing PMI            August 
     1400  U.S.         Construction spending            July 
     1400  Board of Governors of the Federal Reserve conducts
           open meeting 
    

 (Reporting by Arpan Varghese in Bengaluru; Editing by Richard
Pullin)
  

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