Reuters logo
PRECIOUS-Gold dips amid firmer Asian stocks
November 7, 2017 / 1:12 AM / a month ago

PRECIOUS-Gold dips amid firmer Asian stocks

    Nov 7 (Reuters) - Gold inched down early Tuesday after
gaining nearly one percent in the previous session, easing as
firmer Asian stocks marked a 10-year peak.
            
    FUNDAMENTALS    
    * Spot gold        was down 0.1 percent at $1,280.24 per
ounce at 1252 GMT. The metal jumped nearly one percent on Monday
on geopolitical risks in its biggest one-day percentage gain
since Sept. 25.     
    * U.S. gold futures         for December delivery dipped 0.1
percent to $1,280.90.     
    * Asian shares touched their highest in a decade on Tuesday,
MSCI's broadest index of Asia-Pacific shares outside Japan
                edging up 0.3 percent in early trade.
           
    * The dollar sagged on Tuesday, knocked away from an
eight-month highs versus the yen down as Treasury yields slipped
on uncertainty over whether the Republicans can pass their tax
bill in a timely manner.       
    * A campaign of mass arrests of Saudi Arabian royals,
ministers and businessmen expanded on Monday after a top
entrepreneur was reportedly detained in the biggest
anti-corruption purge of the kingdom's affluent elite in its
modern history.             
    * U.S. President Donald Trump will step directly into the
shadow of the North Korean nuclear standoff on Tuesday on a
visit to South Korea in which his words alone could risk further
inflaming tensions with North Korean leader Kim Jong Un.
            
    * The Federal Reserve Bank of New York confirmed on Monday
that William Dudley, among the most influential monetary
policymakers throughout the financial crisis and its aftermath,
expects to retire by mid-2018, raising another question over
leadership at the U.S. central bank less than a week after
President Donald Trump chose a new Fed chief.             
    * Republican lawmakers on Monday began revising their
proposed overhaul of the U.S. tax code, as Democrats pointed to
the loss of popular deductions as proof the legislation was an
assault on the middle class.             
    * The European Central Bank should ditch its central
inflation target and accept a less stringent one, as the current
policy cornerstone has distorted markets and risks normalising
interventions, its former chief economist said on Monday.
            
    * CI Investments Inc            sharply increased its
holdings in the world's biggest gold exchange-traded fund during
the third quarter of 2017, a U.S. Securities and Exchange
Commission 13F filing showed on Monday.
    * The threat of a strike in South Africa put renewed
pressure on Lonmin         on Monday as Chief Executive Ben
Magara sought to reassure investors that the platinum miner's
underlying business was robust.             
          
    DATA/EVENT AHEAD (GMT)
    0700  Germany Industrial output Sep
    0745  France Budget balance     Sep
    1000  Euro zone Retail sales    Sep
    1930  Federal Reserve Chair Janet Yellen gives acceptance
          remarks at Washington event

 (Reporting by Vijaykumar Vedala in Bengaluru; Editing by
Richard Pullin)
  

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below