June 16, 2020 / 1:35 AM / 24 days ago

PRECIOUS-Gold steady as dollar eases; rising equities cap upside

    June 16 (Reuters) - Gold steadied on Tuesday supported by a
weaker U.S. dollar, which fell after the Federal Reserve
announced it would buy individual corporate bonds in the
secondary market, although an uptick in risk appetite limited
bullion's advance.
    * Spot gold        was flat at $1,725.23 per ounce, as of
0052 GMT.
    * U.S. gold futures        rose 0.4% to $1,733.60 per ounce.
    * The dollar index        fell 0.2% against its rival,
making gold less expensive for holders of other currencies.
    * The Fed on Monday announced tweaks to its bond buying
program, widening the range of eligible assets to include all
U.S. corporate bonds that satisfied certain criteria.
    * Asian stocks were set to follow Wall Street's overnight
surge on Tuesday, as investors cheered the Fed's move to support
financial markets.            
    * The Bank of Japan is expected to keep monetary settings
steady at its policy meeting on Tuesday, as it gauges the
effects of stimulus steps already announced to support its
    * Gold tends to benefit from widespread stimulus measures
from central banks as it is widely viewed as a hedge against
inflation and currency debasement.
    * Global cases of the novel coronavirus reached over 8
million on Monday, as infections surge in Latin America and the
United States and China grapple with fresh outbreaks.
    * The U.S. economy will experience a "significant, historic"
contraction in the second quarter before it starts to rebound,
and unemployment will remain elevated at the end of 2020, Dallas
Federal Reserve President Robert Kaplan said on Monday.
    * Palladium        climbed 1.5% to $1,936.93 per ounce and
platinum       rose 0.7% to $817.20, while silver        fell
0.4% to $17.37.

0600  Germany  HICP Final YY              May
0600  UK       ILO Unemployment Rate      April
1230  US       Retail Sales MM            May
1315  US       Industrial Production MM   May

 (Reporting by Brijesh Patel in Bengaluru; Editing by Amy Caren
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