Reuters logo
PRECIOUS-Gold up for 5th straight day as geopolitical concerns persist
September 6, 2017 / 1:23 AM / in 2 months

PRECIOUS-Gold up for 5th straight day as geopolitical concerns persist

    Sept 6 (Reuters) - Gold was up for a fifth day on Wednesday
as geopolitical risks over North Korea remained elevated, and as
low U.S. inflation concerns left some Federal Reserve officials
backing delays in further interest rate hikes.

     FUNDAMENTALS    
    * Spot gold        was up 0.1 percent at $1,339.87 per ounce
by 0101 GMT, after touching its highest level since early
September at $1,344.21 in the previous session.
    * U.S. gold futures         for December delivery were
nearly unchanged at $1,345.00.
    * Asian stocks tracked Wall Street's slide overnight to slip
on Wednesday while the dollar was on the defensive, with
tensions in the Korean Peninsula showing little signs of
abating.            
    * A top North Korean diplomat on Tuesday warned that his
country is ready to send "more gift packages" to the United
States as world powers struggled for a response to Pyongyang's
latest nuclear weapons test.             
    * The Federal Reserve should delay raising U.S. interest
rates until it is confident inflation will rebound, an
influential policymaker said on Tuesday, the clearest signal yet
that the Fed is getting more dovish in the face of weak data.
            
    * New orders for U.S.-made goods recorded their biggest drop
in nearly three years in July, but demand for capital goods was
stronger than previously reported, pointing to a faster pace of
business spending early in the third quarter.             
    * Euro zone government bond yields dipped on Tuesday as
attention shifted from tensions over North Korea to an
approaching European Central Bank meeting that could shed light
on the timing for an unwinding of massive monetary stimulus.
            
    * Business activity in the euro zone stayed robust in August
as it outpaced Britain, where an economy increasingly bogged
down by Brexit worries lost momentum, surveys showed on Tuesday.
            
          
    DATA/EVENT AHEAD (GMT) 
    
 0600  Germany    Industrial orders            Jul 
 1230  U.S.       International trade          Jul 
 1400  U.S.       ISM non-manufacturing PMI    Aug 
 1800  Federal Reserve issues Beige Book of economic condition 

 (Reporting by Apeksha Nair in Bengaluru; Editing by Kenneth
Maxwell)
  

Our Standards:The Thomson Reuters Trust Principles.
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