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PRECIOUS-Gold inches lower as market awaits rate hike cues
July 11, 2017 / 1:03 AM / 4 months ago

PRECIOUS-Gold inches lower as market awaits rate hike cues

    BENGALURU, July 11 (Reuters) - Gold edged lower early
Tuesday on a firmer dollar after touching near four-month lows
in the previous session as the market waits for cues from the
central bank on the path of U.S. interest rate hikes.
    * Spot gold        fell 0.2 percent to $1,212.01 per ounce
at 0043 GMT. It hit a low of $1,204.45 in the previous session,
its lowest since March 15.
    * U.S. gold futures         for August delivery rose 0.3
percent to $1,212.80 per ounce.    
    * Traders were looking ahead to Wednesday and Thursday, when
U.S. Federal Reserve Chair Janet Yellen will address Congress.
    * The U.S. dollar climbed to a two-month high against the
yen on Monday and global equity markets rallied, lifted by
robust economic data from Germany and renewed interest in U.S.
technology stocks spurred by an Amazon online sale event.       
    * U.S. Treasury yields slipped on Monday, in line with weak
European markets, as sharp gains following Friday's strong U.S.
non-farm payrolls report prompted investors to consolidate
    * More than two tonnes of gold were traded through the
London Metal Exchange's new LMEprecious spot contract by late
afternoon on its first day as the exchange began its bid to take
a slice of the world's biggest over-the-counter (OTC) gold
    * Consumers expect to boost spending in the months ahead and
voiced confidence they are more likely to find a job and less
likely to lose one in a strong labor market, the New York
Federal Reserve reported Monday in its latest monthly survey of
consumer expectations.             
    * Investors expect euro zone bonds to be pummelled in the
coming months as the European Central Bank starts turning off
the money taps after years of unprecedented largesse, a Sentix
poll showed on Monday.                 
    * Holdings at SPDR Gold Trust      , the world's largest
gold-backed exchange-traded fund fell 0.35 percent to 832.39
tonnes on Monday from 835.35 tonnes on Friday.             
    * The French government will push ahead with tax cuts
promised by President Emmanuel Macron, sources said on Monday,
rowing back on comments from the prime minister that some could
     1000    U.S.  Small business confidence index     June  
     1255    U.S.  Job openings (JOLTS)                May 
     1400    U.S.  Wholesale inventories               May 

 (Reporting by Nithin Prasad in Bengaluru)

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