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PRECIOUS-Gold inches down from near-two month high
August 10, 2017 / 1:23 AM / 3 months ago

PRECIOUS-Gold inches down from near-two month high

    BENGALURU, Aug 10 (Reuters) - Gold prices edged lower early
Thursday, moving away from near two-month highs hit in the
previous session as safe haven demand triggered by rising
tensions in the Korean peninsula eased.
    
    FUNDAMENTALS    
    * Spot gold        fell 0.2 percent to $1,275.10 per ounce
at 0058 GMT. The precious metal rose 1.3 percent in the previous
session, its biggest gain since mid-May, and touched $1,278.66
an ounce, it highest level since June 14.
    * U.S. gold futures         for December delivery rose 0.2
percent to $1,281.20 per ounce.
    * North Korea dismissed on Thursday warnings by U.S.
President Donald Trump that it would face "fire and fury" if it
threatened the United States as a "load of nonsense", and
outlined detailed plans for a missile strike near the Pacific
territory of Guam.                
    * Asian stocks steadied and U.S. Treasury bond prices fell
slightly on Thursday as the risk aversion triggered by the
latest flare up of tensions between the United States and North
Korea began to settle.           
    * A raid on the Virginia home of President Donald Trump's
former 2016 election campaign manager showed an investigation of
possible ties between the campaign and Russia is intensifying
and focused on the financial dealings of Trump associates,
sources familiar with the probe said.             
    * Japan's core machinery orders unexpectedly fell for a
third straight month in June, underscoring companies' reluctance
to boost spending and conflicting with recent signs that the
economic recovery is gathering momentum.             
    * Washington imposed sanctions on eight Venezuelan officials
on Wednesday for their role in creating an all-powerful
legislative body loyal to President Nicolas Maduro, while a
mayor-turned-fugitive called for more anti-government protests.
            
    
     DATA AHEAD (GMT) 
     0645  France    Industrial output      June 
     0830  Britain   Industrial output      June 
     1230  U.S.      Weekly jobless claims 
    

 (Reporting by Nithin Prasad in Bengaluru; Editing by Richard
Pullin)
  

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