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Sumita Layek

PRECIOUS-Gold rises as stocks dip, sound technicals bolster appeal

1:31pm EDT

(Updates prices) * Wall Street falls after weak industrial earnings, hawkish Fed * Dollar index near one-week high * Silver and platinum slip to lowest in a week * GRAPHIC-Spot gold vs U.S. dollar: https://tmsnrt.rs/2J6l0kS By Sumita Layek and Arpan Varghese Oct 18 Gold rose on Thursday as renewed weakness in global stock markets spurred investors to seek refuge in bullion, which has also been helped by an improved technical outlook. Spot gold rose 0.4 percent to $1,227.04 per ounce at 1:18 pm EDT (1718 GMT). U.S. gold futures were up 0.2 percent at $1,230.10. "Renewed weakness in equity markets might trigger additional buying in gold," said Alexander Zumpfe, a precious metals trader at Heraeus. "Gold continues to look well supported by short-covering and fresh buying after it recently installed a short-term uptrend. We continue to see good physical demand on every price dip," he added. U.S. stocks fell on Thursday as weak earnings reports from industrials raised worries over rising expenses and the impact of tariffs, adding to concerns of higher borrowing costs after hawkish commentary in the Federal Reserve's minutes. "Overall, we have been technically breaking above the previous highs, so it will be difficult for gold prices to move below that," said ABN AMRO analyst Georgette Boele. The global stock market sell-off on Monday boosted gold's appeal, helping the yellow metal to a 2-1/2-month peak of $1,233.26. A rise above the 100-day moving average, around $1,226, was also supporting gold with some analysts saying a clear break above that level could trigger further gains and put further pressure on short-sellers. The dollar index held near a one-week high after the minutes from the last U.S. Federal Reserve meeting reiterated a hawkish stance on monetary policy, normally a bearish signal for gold. "We have seen strong inflows in exchange traded funds (ETFs) in the last weeks that sort of indicate investor sentiment is turning now for the metal, moving to the positive side," ETF Securities analyst Nitesh Shah said. Holdings of the SPDR Gold Trust , the largest gold-backed ETF, have gained more than 2 percent since Oct. 3. "Geopolitical and macroeconomic factors are still not indicating exuberance and risk appetite returning to markets with full throttle," said Religare Securities analyst Sugandha Sachdeva. Trade war concerns, a hawkish U.S. central bank and tensions between the United States and Saudi Arabia are seen weighing on appetite for riskier assets. This bodes well for gold as a hedge against market volatility and a portfolio diversifier, Sachdeva added. In other precious metals trading, silver was down 0.2 percent at $14.58 per ounce, having earlier touched its lowest since Oct. 11 at $14.41. Platinum fell 0.7 percent to $825.49 after hitting a one-week low of $821, while palladium gained 0.5 percent to $1,074.70. (Reporting by Sumita Layek, Arpan Varghese and Swati Verma in Bengaluru; additional reporting by Vijaykumar Vedala; editing by Edmund Blair and Tom Brown)

PRECIOUS-Gold firm as technical gains give support against strong dollar

9:54am EDT

BENGALURU, Oct 18 Gold edged higher on Thursday, supported by an improved technical outlook that helped the metal hold out against a stronger dollar.

PRECIOUS-Gold gains as equities rally wanes, nervous shorts cover

Oct 17 2018

* Nervous investors using dips to cover short postions -analyst (Recasts, updates prices and quotes)

PRECIOUS-Gold holds gains on short-covering, fragile stock markets

Oct 16 2018

* SPDR Gold Trust holdings up 0.6 pct on Monday (Updates prices and comments)

Gold gains 1 pct as investors shelter from sliding equities

Oct 15 2018

BENGALURU Gold rose more than 1 percent on Monday to its highest in about 2-1/2 months as investors sought refuge in the metal after mounting tensions between Western powers and Saudi Arabia compounded jitters in global stock markets.

PRECIOUS-Gold gains 1 pct as investors shelter from sliding equities

Oct 15 2018

* Platinum hits highest in more than three months (Updates comments and prices)

Asia Gold: High prices deter buyers ahead of India festival season

Oct 12 2018

MUMBAI/BENGALURU Physical gold demand in India was subdued this week as a rally in domestic prices curbed retail purchases going into a key festival season, while buying remained lacklustre in other major Asian hubs.

Asia Gold-High prices deter buyers ahead of India festival season

Oct 12 2018

MUMBAI/BENGALURU, Oct 12 Physical gold demand in India was subdued this week as a rally in domestic prices curbed retail purchases going into a key festival season, while buying remained lacklustre in other major Asian hubs.

Asia Rice: India prices slip for third straight week on slow demand

Oct 11 2018

BENGALURU Rice export prices in India eased for a third consecutive week due to waning demand and prospects of fresh supplies, while markets in Thailand and Vietnam were propped up by expectations of orders from China and Philippines.

PRECIOUS-Gold slides alongside equities as dollar climbs

Oct 08 2018

* China eases policy on concerns Sino-U.S. spat could hurt growth

World News

U.S. gives Saudis more time on Khashoggi; Mnuchin spurns conference

The top U.S. diplomat advised President Donald Trump on Thursday to give Saudi Arabia more time to investigate journalist Jamal Khashoggi's disappearance even as Treasury Secretary Steven Mnuchin abandoned plans to attend an investor conference in Riyadh, putting the high-profile event in question.