January 5, 2018 / 1:29 AM / 3 months ago

PRECIOUS-Gold prices steady, set for fourth straight weekly gain

    Jan 5 (Reuters) - Gold prices held steady on Friday after
hitting 3-1/2 month highs in the previous session, remaining on
track for their fourth straight weekly gain.
    * Spot gold        was mostly unchanged at $1,322.50 an
ounce at 0102 GMT.
    * It marked its highest since Sept. 15 at $1,325.86 on
Thursday on a weaker dollar. 
    * Spot gold was on track for its fourth straight weekly
climb, rising 1.5 percent so far this week.
    * Weighed down by the greenback's weakness against the euro,
the dollar index against a basket of six major currencies was
poised for a loss of 0.3 percent this week, during which it
probed a three-month low of 91.751       .       
    * U.S. gold futures         were up 0.2 percent at $1,323.70
an ounce. 
    * Spot gold's 14-day relative strength index (RSI) was at
72.59. An RSI above 70 indicates a commodity is overbought and
could herald a price correction, technical analysts said.
    * U.S. private employers added 250,000 jobs in December,
data from ADP Research Institute showed, the biggest monthly
increase since March. Economists surveyed by Reuters had
forecast a gain of 190,000 jobs.             
    * With ADP out of the way, investors are now focused on
Friday's U.S. non-farm payrolls report, which is expected to
show job gains of 190,000 for December.
    * Spot palladium        hit a record high on Thursday at
$1,105.70. It was steady at $1,097.10 on Friday.
    * Palladium's price jumped 56 percent last year on fears of
a shortage fueled by Chinese car sales growth, tightening
emissions controls and a swing away from diesel cars in Europe. 
    * Holdings of SPDR Gold Trust      , the world's largest
gold-backed exchange-traded fund, fell 0.03 percent to 836.04
tonnes on Thursday from Wednesday.
700    Germany     Retail sales                          Nov
1000   Euro Zone   CPI                                   Dec 
1000   Euro Zone   PPI                                   Nov 
1330   U.S.        Employment data                       Dec 
1330   U.S.        Trade data                            Nov
1500   U.S.        Factory orders                        Nov 
1500   U.S.        Durables orders                       Nov
1500   U.S.        ISM Non-manufacturing business index  Dec

 (Reporting by Nallur Sethuraman in Bengaluru; Editing by Joseph
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