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Gold Steady On Weak Dollar,

Discussion in 'Gold Silver (All things Metal)' started by Scorpio, Apr 19, 2017.



  1. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

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    PRECIOUS - Gold Steady On Weak Dollar, Geopolitical Worries
    [​IMG]
    Reuters
    Tuesday April 18, 2017 22:28

    Kitco News

    April 19 - Gold held steady on Wednesday, supported by a weaker dollar, geopolitical concerns about North Korea and nervousness ahead of the French presidential election.

    FUNDAMENTALS

    * Spot gold was down 90 cents at $1,288.39 per ounce as of 0055 GMT. The metal hit its highest since early November at $1,295.42 on Monday before closing lower, and rose 0.4 percent on Tuesday.

    * U.S. gold futures were down 0.3 percent at $1,290.10

    * The dollar index was hovering near a three-week low on disappointing U.S. housing starts data and nervousness over trade talks between the United States and Japan.

    * U.S. homebuilding fell in March after unseasonably mild weather buoyed activity in February and manufacturing output dropped for the first time in seven months, further indications that economic growth braked sharply in the first quarter.

    * U.S. Vice President Mike Pence reassured Japan of American commitment to reining in North Korea's nuclear and missile ambitions on Tuesday, after warning that U.S. strikes in Syria and Afghanistan showed the strength of its resolve.

    * In France, investors remained nervous ahead of the first round of the country's presidential election this Sunday, even though an opinion poll put centrist Emmanuel Macron first, just ahead of far-right, anti-euro candidate Marine Le Pen.

    * British Prime Minister Theresa May's call for a snap general election added to a lengthening list of uncertainties for investors already on edge over geopolitical tensions that also include Syria, Afghanistan, Turkey and U.S. relations with Russia and China.

    * The International Monetary Fund raised its 2017 global growth forecast on Tuesday due to manufacturing and trade gains in Europe, Japan and China, but warned that protectionist policies threaten to choke a broad-based recovery.

    * Prices in China's sizzling property market, a major driver of growth in the world's second largest economy, accelerated in March on a monthly basis, shaking off the impact of recent cooling measures introduced to dampen speculative demand.

    DATA AHEAD (GMT)

    0900 Euro zone Eurostat trade Feb

    0900 Euro zone Inflation final Mar

    1800 U.S. Federal Reserve's Beige Book

    (Reporting By Nallur Sethuraman in Bengaluru; Editing by Subhranshu Sahu)

    Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

    http://www.kitco.com/news/2017-04-18/PRECIOUS-Gold-Steady-On-Weak-Dollar-Geopolitical-Worries.html
     

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