September 15, 2017 / 12:27 AM / 12 days ago

PRECIOUS-Gold up after North Korea fires yet another missile

    Sept 15 (Reuters) - Gold rose on Friday to pull further away
from a two-week low, after North Korea fired another missile
over Japan, triggering the latest round of safe-haven buying in
markets while weighing on the dollar.
        
    FUNDAMENTALS    
    * Spot gold        was up 0.3 percent to $1,333.06 an ounce
by 0020 GMT, after dropping to its lowest since Aug. 31 at
$1,315.71 in the previous session.
    * U.S. gold futures         for December delivery gained 0.6
percent to $1,337.40 an ounce.
    * The yen and the Swiss franc edged higher on Friday after
North Korea fired a missile over Japan into the Pacific Ocean.
      
    * The dollar fell to as low as 109.55 yen        in early
Asian trade.       
    * North Korea fired a missile on Friday that flew over
Japan's northern Hokkaido far out into the Pacific Ocean, South
Korean and Japanese officials said, further ratcheting up
tensions after Pyongyang's recent test of a powerful nuclear
bomb.             
    * U.S. consumer prices accelerated in August amid a jump in
the cost of gasoline and rental accommodation, signs of firming
inflation that boosted the probability of an interest rate
increase from the Federal Reserve in December.             
    * President Donald Trump will take his "America First"
message to the United Nations next week and seek support for
tough measures against North Korea despite his skepticism about
the value of international groups like the 193-member body.
            
    * The Bank of England said it was likely to raise interest
rates in the coming months if the economy and price pressures
keep growing, giving its clearest signal to date that Britain's
first rate hike in a decade is approaching.             
    * With the euro zone's economy finally growing, the time for
the European Central Bank to reduce its monetary stimulus may be
nearing, speeches by three ECB policymakers suggested on
Thursday.             
    * Inflation in the euro zone appears to have bottomed out,
European Central Bank policymaker Jan Smets said on Thursday.
            
    * China posted a rare flurry of disappointing data on
Thursday -- including its slowest growth in investment in nearly
18 years -- suggesting the world's second-largest economy is
finally starting to lose some momentum as borrowing costs rise.
            
    
    
    DATA/EVENT AHEAD (GMT)
    0900  Euro zone     Eurostat trade                  Jul 
    0900  Euro zone     Labour costs                    Q2 
    1230  U.S.          New York Fed manufacturing      Sep 
    1230  U.S.          Retail sales                    Aug
    1315  U.S.          Industrial output               Aug 
    1400  U.S.          Business inventories            Jul 
    1400  U.S.   University of Michigan sentiment index Sep 
European Union finance ministers and central bank governors meet
    

 (Reporting by Apeksha Nair in Bengaluru)
  

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