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PRECIOUS-Gold gains on weaker dollar
October 11, 2017 / 1:06 AM / 13 days ago

PRECIOUS-Gold gains on weaker dollar

    Oct 11 (Reuters) - Gold rose for a fourth day on Wednesday,
after hitting a near two-week high in the previous session,
supported by weakness in the U.S. dollar.  
           
    FUNDAMENTALS    
    * Spot gold        was up 0.2 percent at $1,290.56 an ounce
by 0053 GMT. It touched its highest level since Sept. 27 in the
previous session.
    * U.S. gold futures         for December delivery were
nearly unchanged at $1,293 per ounce.
    * The dollar wobbled against its peers on Wednesday and
edged further away from a 10-week high scaled recently amid
speculation that the U.S. tax overhaul plan introduced by
President Donald Trump would stall, with a buoyant euro adding
further pressure on the greenback.       
    * Asian shares rose on Wednesday, tracking Wall Street's
rally to all-time highs, while the euro hovered near a 10-day
peak after Catalonia's leader talked down immediate plans to
secede from Spain, easing near-term concerns about euro zone
instability.            
    * North Korean hackers may have stolen a large amount of
classified military documents, including the latest South
Korea-U.S. wartime operational plan, a South Korean ruling party
lawmaker said, Yonhap News reported on Tuesday.             
    * Catalonia's leader balked at making a formal declaration
of independence from Spain on Tuesday, calling for talks with
Madrid over the region's future in a gesture that eased fears of
immediate unrest in the heart of the euro zone.             
    * The German government will raise its 2017 growth forecast
for Europe's biggest economy to 2 percent, a sharp increase from
its earlier estimate of 1.5 percent and the strongest rate since
2011, a source told Reuters on Tuesday.             
    * Short-term inflation expectations among U.S. consumers
were stuck near their lowest level since early 2016 in September
as the one-year outlook on wages and family finances
deteriorated, a New York Federal Reserve survey released on
Tuesday showed.             
    * Spanish banks stocked up on European Central Bank money at
a weekly auction on Tuesday, fearing jitters on the funding
market if Catalonia breaks away from Spain.             
    * Britain's Brexit-bound economy remains stuck in a low gear
but is probably not weak enough to dissuade the Bank of England
from raising interest rates next month, economic data showed.
            
    * China will have no problem meeting its economic growth
target of around 6.5 percent this year, and may even beat it,
the head of the Statistics Bureau said on Tuesday, confirming
widespread market expectations.             
    

 (Reporting by Apeksha Nair in Bengaluru; Editing by Vyas Mohan)
  

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