April 6, 2017 / 1:19 AM / a year ago

PRECIOUS-Gold up on risk-averse sentiment ahead of Trump-Xi meeting

    April 6 (Reuters) - Gold prices edged up on Thursday on a
weaker dollar and as appetite for risky assets such as equities
waned ahead of a tense meeting between U.S. President Donald
Trump and his Chinese counterpart.
    * Spot gold        rose 0.1 percent to $1,256 per ounce by
0100 GMT. U.S. gold futures         climbed as much as 1 percent
to $1,260.80 and was last up 0.7 percent at $1,257.
    * On Tuesday, spot gold hit its highest since Feb. 27 at
    * Investors were cautious ahead of a potentially tense
meeting between Trump and Chinese President Xi Jinping on
Thursday, the first between the world's two most powerful
    * Topping the agenda at Trump's Mar-a-Lago resort in Florida
will be whether he makes good on his threat to use U.S.-China
trade ties to pressure Beijing to do more to rein in its
nuclear-armed neighbour North Korea.             
    * Lingering fears of a possible trade war kept Asian markets
on edge.            
    * The dollar index        fell 0.1 percent to 100.450.
    * U.S. Federal Reserve's March minutes on Wednesday showed
most policymakers think the central bank should take steps to
begin trimming its $4.5 trillion balance sheet later this year
as long as the economic data holds up.             
    * The ADP National Employment Report showed that U.S.
private employers added 263,000 jobs in March, beating
economists' forecasts of 187,000 additions.             
    * Euro zone businesses enjoyed their best quarter in six
years at the start of 2017 and although growth was not quite as
fast as a flash estimate, the upturn was broad-based, a survey
suggested on Wednesday.             
    * Greece and its international lenders remained at odds in
talks to release fresh bailout loans to Athens on Wednesday as
Prime Minister Alexis Tsipras said a deal was needed this week
and accused creditors of 'playing games' and causing delays.
    * China's Shandong Gold Mining Co Ltd             is in
advanced talks to buy a 50 percent stake in Barrick Gold Corp's
                 Veladero gold mine in Argentina, people
familiar with the process told Reuters even as the Canadian
miner grappled with a pipe rupture at the site.              
    * ABN AMRO said on Wednesday it sees 2017 average gold price
forecast at $1,254 per ounce and the 2017 average silver price
forecast at $18.3 per ounce.             
    * UBS on Wednesday tempered its gold price expectations. It
expects gold to average $1,300 per ounce for 2017 from $1,350
previously and $1,325 for 2018 from $1,450 previously.
     0145  China     Caixin services PMI      Mar 
     0600  Germany   Industrial orders        Feb 
     1130  U.S.      Challenger layoffs       Mar 
     1230  U.S.      Weekly jobless claims     

 (Reporting By Nallur Sethuraman in Bengaluru; Editing by Biju
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