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PRECIOUS-Gold prices firm ahead of meeting between Trump, Xi
April 5, 2017 / 1:38 AM / 7 months ago

PRECIOUS-Gold prices firm ahead of meeting between Trump, Xi

    April 5 (Reuters) - Gold prices held firm on Wednesday near
one-month highs hit the day before, with appetite for risk
easing ahead of a meeting this week between the leaders of the
United States and China.
    * Spot gold        was mostly unchanged at $1,256 per ounce
by 0056 GMT. U.S. gold futures         were also mostly flat at
    * Spot gold on Tuesday hit its highest since Feb. 27 at
    * Investors were also waiting for minutes from the U.S.
Federal Reserve's March meeting. 
    * North Korea fired a ballistic missile on Wednesday from
its east coast into the sea off the Peninsula, South Korea's
military said, ahead of the summit between the United States and
    * When U.S. President Donald Trump meets Chinese President
Xi Jinping on Thursday and Friday, the event will be marked not
only by deep policy divisions but a clash of personalities
between America’s brash "tweeter-in-chief" and Beijing's
cautious, calculating leader.             
    * The U.S. trade deficit fell from a near two-year high in
February as slowing domestic demand weighed on imports and
stronger global growth boosted exports of American goods.
    * Trump vowed on Tuesday to cut red tape to speed up
approval of infrastructure projects and said his overhaul could
top $1 trillion on roads, tunnels and bridges, one of his 2016
election campaign promises.             
    * Richmond Federal Reserve President Jeffrey Lacker abruptly
left the U.S. central bank on Tuesday after admitting that a
conversation he had with a Wall Street analyst in 2012 may have
disclosed confidential information about Fed policy options.
    * Investors raised their bearish bets on longer-dated U.S.
Treasuries as a rally in the bond market pushed benchmark yields
to their lowest since February, J.P. Morgan's latest Treasury
client survey showed on Tuesday.             
    * Turkish gold imports rose 17-fold to 28.2 tonnes in March,
as Turks looking to hedge currency risk ahead of a referendum in
two weeks time followed President Tayyip Erdogan's calls to buy
gold instead of dollars.             .
    * Turkey is taking steps to give its central bank the right
of first refusal on domestically produced gold, two sources
said, allowing it to boost reserves of the precious metal
without depleting foreign currency holdings.             
    * The European Commission believes a deal on the Greek
bailout is possible in the coming weeks, the economics
commissioner told EU lawmakers on Tuesday, adding that a failure
to reach an agreement quickly could pose risks.             
    DATA AHEAD  (GMT)    
    0750  France    Markit services PMI         Mar 
    0755  Germany   Markit services PMI         Mar 
    0800  Euro zone Markit services PMI final   Mar 
    1215  U.S. ADP national employment          Mar 
    1400  U.S. ISM non-manufacturing PMI        Mar 
    1800  Minutes of Federal Reserve meeting on March 14-15 

 (Reporting By Nallur Sethuraman in Bengaluru)

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