June 23, 2017 / 1:15 AM / in 6 months

PRECIOUS-Gold steady, heads for third weekly fall

    BENGALURU, June 23 (Reuters) - Gold held steady on Friday
above a five-week low touched earlier this week, supported by
technicals, but the metal was still on track for a third weekly
fall.
        
    FUNDAMENTALS    
    * Spot gold        was nearly unchanged at $1,250.70 per
ounce at 0053 GMT. It was set for a small weekly fall of about
0.3 percent, having eased about 1 percent in each of two
preceding weeks.
    * U.S. gold futures         for August delivery gained 0.2
percent to $1,251.9 per ounce.
    * The dollar was little changed against a basket of
currencies on Thursday as low U.S. bond yields offset in-line
data on domestic jobless claims and home prices, keeping it
close to the one-month peak it reached earlier this week.       
    * Theresa May offered fellow EU leaders a "fair" deal on
Thursday for compatriots living in Britain after Brexit, though
her peers sounded skeptical and demanded more detail from a
prime minister weakened by an electoral misfire two weeks
ago.            
    * Bank of Japan Deputy Governor Kikuo Iwata on Thursday
dismissed the need to raise interest rates any time soon,
stressing that the economy still requires support from
"powerful" monetary easing, with inflation far from the central
bank's 2 percent target.             
    * The European Central Bank will ignore government
complaints about rising borrowing costs when it eventually
tightens policy and will not help any particular country, the
ECB's chief economist said, according to the German magazine
Spiegel.            
    * The London Metal Exchange is expected to cut trading fees
within months after two years of complaints but might only do so
for a trial period of up to six months to see if volumes that
moved to over-the-counter markets return to the exchange,
sources said.             
    * Sibanye Gold's Cooke mine in South Africa will remain
closed until Monday, it said on Thursday.             
    * Shareholders voted for four new board members at
Russian-focused gold miner Petropavlovsk on Thursday, ousting
Peter Hambro who has run the company since he founded it in
1994.             
    * North Korea has carried out another test of a rocket
engine that the United States believes could be part of its
program to develop an intercontinental ballistic missile, a U.S.
official told Reuters on Thursday.             
    
    DATA AHEAD (GMT) 
     0645  France     Final GDP                       Q1 
     0700  France     Markit manufacturing flash PMI  June 
     0730  Germany    Markit manufacturing flash PMI  June
     0800  Euro zone  Markit manufacturing flash PMI  June
     1345  U.S.       Markit manufacturing flash PMI  June
     1400  U.S.       New home sales                  May 

 (Reporting by Nithin Prasad 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