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PRECIOUS-Gold slips on firmer dollar, but N. Korea worries offer support
April 18, 2017 / 1:18 AM / 5 months ago

PRECIOUS-Gold slips on firmer dollar, but N. Korea worries offer support

    April 18 (Reuters) - Gold prices edged down on Tuesday,
after hitting a five-month high in the previous session, on a
firmer dollar and higher U.S. Treasury yields, but simmering
geopolitical tensions over North Korea continued to offer
support. 
    
    FUNDAMENTALS
    * Spot gold        had inched down 0.1 percent to $1,282.81
per ounce by 0047 GMT, after hitting its highest since early
November at $1,295.42 in the prior session.
    * U.S. gold futures         were down 0.5 percent at
$1,285.20.
    * U.S. Vice President Mike Pence warned North Korea on
Monday that recent American military strikes in Syria and
Afghanistan showed President Donald Trump's resolve should not
be questioned, but Pyongyang vowed to continue missile and
nuclear tests.             
    * With the first round of France's presidential election on
April 23, an unpredictable outcome is pushing some pollsters to
calculate the most extreme runoff scenarios.             
    * The Atlanta and New York Federal Reserve banks downgraded
their outlook for U.S. economic growth for the first quarter
after disappointing data on retail sales and consumer prices in
March.             
    * The U.S. dollar steadied after Treasury Secretary Steven
Mnuchin said U.S. President Donald Trump's recent remarks that
the dollar is getting too strong were about the short term.
                   
    * U.S. Treasury yields rose from five-month lows as stocks
gained, reducing demand for safe-haven debt, and on reports that
the Trump administration is likely to nominate a bank-friendly
official as the Fed's vice chairman for bank supervision.      
    
    DATA AHEAD  (GMT)
    1230  U.S.   Housing Starts         Mar 
    1255  U.S.   Redbook weekly 
    1315  U.S.   Industrial Production  Mar 

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

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