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PRECIOUS-Gold inches lower amid Fed rate hike expectations
March 7, 2017 / 12:55 AM / in 9 months

PRECIOUS-Gold inches lower amid Fed rate hike expectations

    March 7 (Reuters) - Gold prices edged lower on an uptick in
the dollar on Tuesday, hovering above the two-week low hit on
Friday amid signals of a hike in U.S. interest rates this month.
    * Spot gold        fell 0.1 percent, to $1,224.86 per ounce
at 0029 GMT. The metal hit $1,222.51, the lowest since Feb. 15,
on Friday. 
    * U.S. gold futures         for April delivery were little
changed at at $1,225 at 19:29 EST (0:29 GMT).
    * The dollar index        was up 0.1 percent at 101.73. 
    * U.S. Federal Reserve Chair Janet Yellen said last week
that the Fed was poised to lift benchmark U.S. rates provided
jobs and inflation data held up, comments seen as cementing
plans for an increase at the Fed's March 14-15 meeting.
    * Prices on most U.S. interest rates futures rose modestly
on Monday in early U.S. trading as traders bet on a strong
likelihood the Fed will raise rates at its meeting next week.
    * Market participants will be closely eyeing the U.S.
monthly jobs report on Friday, which includes the non-farm
payrolls, seen rising by 190,000 in a Reuters poll.         
    * New orders for U.S.-made goods increased for a second
straight month in January, suggesting the recovery of the
manufacturing sector was gaining momentum.             
    * The market will also await monetary policy decisions from
the European Central Bank. The ECB will stay in the background
through upcoming elections in key European countries and is only
likely to signal a shift away from its ultra-easy monetary
policy toward the end of this year or early next, a Reuters poll
    * Francois Fillon fought off a rebellion that had threatened
to end his candidacy for the French presidency on Monday as
party leaders swung behind the centre-right former prime
minister despite allegations that he had misused public funds.
    * Holdings of the SPDR Gold Trust      , the world's largest
gold-backed exchange-traded fund, fell 0.45 percent to 836.77
tonnes on Monday.          
    * Newmont Mining         on Monday became the latest of the
world's biggest gold miners to invest in Canada's Yukon
territory, the site of a famous gold rush 120 years ago.
    *  U.S. Defense Secretary Jim Mattis and Japanese Defense
Minister Tomomi Inada conferred on North Korea's missile
launches in a telephone call on Monday, the Pentagon said,
adding both leaders agreed the launches were "unacceptable and
    0100 China       Forex reserves       Feb
    0900 Germany     Industrial orders    Jan
    1000 Euro zone   GDP Revised           Q4
    1330 U.S.        International trade  Jan
    2000 U.S.        Consumer credit      Jan

 (Reporting by Arpan Varghese in Bengaluru; Editing by Richard

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