Reuters logo
4 months ago
PRECIOUS-Gold hits 5-mth high, geopolitical worries drive flight to safety
April 12, 2017 / 1:08 AM / 4 months ago

PRECIOUS-Gold hits 5-mth high, geopolitical worries drive flight to safety

    April 12 (Reuters) - Gold hit a 5-month high on Wednesday
after rising nearly 2 percent in the previous session, with
investors seeking refuge in safe-haven assets due to rising
tensions over U.S. relations with Russia and North Korea.
      
    FUNDAMENTALS
    * Spot gold        had edged up 0.1 percent to $1,275.21 per
ounce by 0035 GMT, after earlier hitting its strongest since
Nov.10 at 1,276.28.
    * U.S. gold futures         edged up 0.3 percent to
$1,277.60.
    * Heightened tensions in the Korean peninsula and Middle
East following U.S. strikes on Syria, along with the upcoming
French presidential election, have left investors nervous.
            
    * The United States accused Russia on Tuesday of trying to
shield Syria's leader from blame for a deadly poison gas attack
last week, as U.S. Secretary of State Rex Tillerson brought a
Western message to Moscow condemning its support for Syrian
President Bashar al-Assad.             
    * North Korean state media warned on Tuesday of a nuclear
attack on the United States at any sign of American aggression,
as a U.S. Navy strike group steamed toward the western Pacific -
a force U.S. President Donald Trump described as an "armada".
             
    * French centrist Emmanuel Macron and far-right leader
Marine Le Pen clung on as frontrunners in France's tight
presidential race on Tuesday, but the unpredictable outcome is
pushing some pollsters to calculate the most extreme runoff
scenarios.
    * San Francisco Federal Reserve Bank President John Williams
said on Tuesday the U.S. central bank should raise interest
rates three or four times this year, and begin to trim the Fed's
multitrillion-dollar balance sheet in late 2017.             
    * Trump told a group of chief executives on Tuesday that his
administration was revamping the Wall Street reform law known as
Dodd-Frank and might eliminate the rules and replace them with
"something else".             
    * Euro zone industrial output declined in February, against
market expectations of a slight increase, largely due a sharp
drop in energy production, dampening prospects for robust
economic growth.              
    * Holdings of SPDR Gold Trust      , the world's largest
gold-backed exchange-traded fund, rose 0.50 percent to 842.41
tonnes on Tuesday from 838.26 tonnes on Monday.
    * London's gold price benchmark fixed some $12 below the
spot price on Tuesday afternoon as the auction appeared to
become locked in a downward spiral.             
    * Hong Kong Exchanges and Clearing Ltd           plans to
launch Hong Kong and London gold contracts by June or July this
year, Chief Executive Charles Li said on Tuesday.             
    
    DATA AHEAD  (GMT)
     0130    China     PPI                    March 
     0130    China     CPI                    March  
     0600    Germany   Wholesale prices       March 
     0830    U.K.      ILO unemployment rate  Feb  
     1230    U.S.      Import prices          March 

 (Reporting by Nallur Sethuraman in Bengaluru; Editing by Joseph
Radford)
  

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