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PRECIOUS-Gold prices slip as equities, dollar gain
October 14, 2016 / 1:17 AM / a year ago

PRECIOUS-Gold prices slip as equities, dollar gain

Oct 14 (Reuters) - Gold prices edged lower in Asian trade on
Friday as stocks firmed and the U.S. dollar rose on expectations
the Federal Reserve would raise interest rates by year-end.
    
    FUNDAMENTALS
    * Spot gold was down 0.1 percent at $1,256.50 an
ounce by 0059 GMT.
    * U.S. gold futures were up 0.1 percent at $1,258.50
an ounce.
    * The dollar index, which measures the greenback
against a basket of six major currencies, gained 0.1 percent to
97.613. 
    * Asian stocks edged higher and the dollar bounced on Friday
as global markets took a breather after being churned by
downbeat Chinese economic data the previous day. 
    * Markets will next look to Friday's U.S. retail sales data
and remarks from Fed Chair Janet Yellen, who will address a
Boston Fed economics conference at which Boston Fed governor
Eric Rosengren will also speak.
    * The number of Americans filing for unemployment benefits
held at a 43-year low last week, pointing to sustained labour
market strength that could pave the way for the Fed to raise
interest rates in December. 
    * The U.S. central bank may want to hold off on monetary
policy changes until after the U.S. presidential election on
Nov. 8, Philadelphia Fed President Patrick Harker said on
Thursday. 
    * China's September exports fell 10 percent from a year
earlier, far worse than expected, while imports unexpectedly
shrank after picking up in August, suggesting signs of steadying
in the world's second-largest economy may be short-lived.
 
    * Azerbaijan's top gold producer Anglo Asian Mining 
said on Thursday its January-September output was 7.8 percent
lower than in the same period last year at 49,874 ounces and it
was cutting its 2016 production target. 
    * Holdings of the SPDR Gold Trust, the world's largest
gold-backed exchange-traded fund, rose 0.28 percent to 961.57
tonnes on Thursday. 
    * South Africa's mining output fell 0.2 pct in August,
according to Statistics South Africa's monthly mining production
data released on Thursday. 
    * For the top stories on metals and other news, click
 or 
   
 DATA/EVENT AHEAD (GMT)     
     0130  China      Consumer prices                  September
     0130  China      Producer prices                  September
     0900  Euro zone  Eurostat trade                      August
     1230  U.S.       Retail sales                     September
     1400  U.S.       Business inventories                August
     1400  U.S.       Univ of Michigan sentiment index   October

 (Reporting by Swati Verma in Bengaluru; Editing by Joseph
Radford)

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