March 1 Gold slipped on Wednesday on a stronger
dollar ahead of a speech by U.S. President Donald Trump that
investors hope will shed more light on the details of his
* Spot gold had dropped 0.3 percent to $1,244.93 per
ounce by 0034 GMT. The metal hit its highest since Nov. 11 at
$1,263.80 on Feb. 27.
* U.S. gold futures fell 0.7 percent to $1,245.
* World financial markets will be scrutinizing Trump's
address in the House of Representatives at 0200 GMT for
specifics on how he aims to make good on promises to tackle tax
reform, boost infrastructure spending and simplify regulations
he says are harming business.
* The president had already said on Monday that he would
propose a budget that would increase spending on defence while
seeking savings elsewhere.
* The dollar index rose 0.4 percent.
* A handful of Federal Reserve policymakers on Tuesday
jolted markets into higher expectations for a March U.S.
interest rate increase, with comments that suggested
rate-setters are worried about waiting too long in the face of
pending economic stimulus from Washington.
* The comments sparked a flurry of selling in the bond
market, with the two-year Treasury yield jumping to its highest
level since December.
* Interest rate futures implied traders saw nearly a
57-percent chance the Fed would raise rates at its March 14-15
meeting, up from roughly 31 percent late on Monday, and around
20 percent a week ago, according to Reuters data.
* The U.S. economy expanded at a slower pace in the fourth
quarter and appeared to remain on a moderate growth path as
Trump took office with a promise to reinvigorate manufacturing
and protect jobs.
* Sales of U.S. Mint American Eagle gold coins fell to a
14-month low while silver coin sales were also sharply lower in
February, the latest government data showed on Tuesday, as
bullion prices rose for the second straight month.
* INTL FCStone Ltd, a London-based subsidiary and precious
metals division of INTL FCStone Inc , said this week
that it was launching a web-based physical gold trading
* Russia remained the world's third largest gold producer in
2016 behind China and Australia, data from its finance ministry
showed on Tuesday.
DATA AHEAD (GMT)
0100 China Official manufacturing PMI Feb
0100 China Official non-manufacturing PMI Feb
0145 China Caixin manufacturing PMI final Feb
0850 France Markit manufacturing PMI Feb
0855 Germany Markit/BME manufacturing PMI Feb
0900 Germany Unemployment rate Feb
0900 Euro zone Markit manufacturing PMI final Feb
1300 Germany Consumer prices Feb
1330 U.S. Personal income Jan
1500 U.S. Construction spending Jan
1500 U.S. ISM manufacturing PMI Feb
(Reporting by Nallur Sethuraman in Bengaluru; Editing by Joseph