Reuters logo
PRECIOUS-Gold prices edge down amid firmer dollar, equities
December 18, 2017 / 1:20 AM / a month ago

PRECIOUS-Gold prices edge down amid firmer dollar, equities

    Dec 18 (Reuters) - Gold prices inched down early on Monday,
pressured by firmer equities and a buoyant dollar after a bill
to overhaul the tax system in the United States moved a step
closer to ratification. 
    
    FUNDAMENTALS    
    * Spot gold        was down 0.1 percent at $1,254.16 an
ounce at 0059 GMT.
    * U.S. gold futures         were little changed at $1,257 an
ounce. 
    * The dollar held modest gains against the euro and yen on
Monday, having received a lift after U.S. tax reform efforts
moved another step closer to ratification over the weekend.
      
    * Top U.S. Republicans said on Sunday they expected Congress
to pass a tax code overhaul this week, with a Senate vote as
early as Tuesday and President Donald Trump aiming to sign the
bill by week's end.             
    * Asian shares inched up on Monday, tracking Wall Street,
which hit record highs on expectations U.S. lawmakers will pass
a long-awaited tax bill.            
    * The United Nations Security Council is due to vote on
Monday on a draft resolution calling for the withdrawal of U.S.
President Donald Trump's decision to recognise Jerusalem as the
capital of Israel, diplomats said, a move likely to face a
Washington veto.             
    * The United States provided intelligence to Russia that
helped thwart a potentially deadly bomb attack in St.
Petersburg, U.S. and Russian officials said on Sunday, in a rare
public show of cooperation despite deep strains between the two
countries.             
    * U.S. industrial production rose less than expected in
November as a drop in utilities output offset a post-hurricane
rebound in the oil and gas industries and the third consecutive
monthly advance for manufacturing, the Federal Reserve said on
Friday.             
    * The European Union agreed on Friday to move Brexit talks
onto trade and a transition pact but some leaders cautioned that
the final year of divorce negotiations before Britain's exit
could be fraught with peril.             
    * The Russian central bank delivered a sharper-than-expected
rate cut on Friday, a move that could help give consumers a
feel-good factor months before the March presidential election
which incumbent Vladimir Putin is expected to win.             
    
    DATA/EVENT AHEAD (GMT)

    0130  China      House prices                     Nov
    1500  U.S.       NAHB housing market index        Dec
    

 (Reporting by Apeksha Nair in Bengaluru; Editing by Joseph
Radford)
  

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