Edition:
India

K. Sathya Narayanan

PRECIOUS-Gold turns positive from 2-mth low on dovish Fed, dollar pull back

24 Sep 2020

* Interactive graphic tracking global spread of coronavirus: https://graphics.reuters.com/world-coronavirus-tracker-and-maps/ (Adds comments, details, updates prices)

PRECIOUS-Gold slumps over 1.5% on dollar rebound, economic recovery hopes

02 Sep 2020

* Interactive graphic tracking global spread of coronavirus: open https://tmsnrt.rs/3aIRuz7 in an external browser (Adds comments, updates prices)

PRECIOUS-Gold falls from 2-week peak on robust U.S. data

02 Sep 2020

* Interactive graphic tracking global spread of coronavirus: open https://tmsnrt.rs/3aIRuz7 in an external browser

PRECIOUS-Gold rises but set for first monthly decline in five

31 Aug 2020

* Silver heads for fifth straight monthly gain * World stocks on track for fifth straight monthly gain * Interactive graphic tracking global spread of coronavirus: open https://tmsnrt.rs/3aIRuz7 in an external browser (Updates prices) By K. Sathya Narayanan Aug 31 Gold prices rose on Monday as the U.S. dollar fell to a two-year low on a dovish policy shift by the U.S. Federal Reserve, although the metal was set for its first monthly decline in five. Spot gold gained 0.2% to $1,967.68 per ounce by 02:09 p.m. EDT (1809 GMT), after hitting its highest since Aug. 19 at $1,976.14. For the month, the metal was down 0.3%, having surged to an all-time peak of $2,072.49 on Aug. 7. U.S. gold futures settled up 0.2% at 1,978.60. "The weaker dollar and the anticipation that we are going to get further dollar weakness has led to some small increases (in gold)" said Jeffrey Sica, founder of Circle Squared Alternative Investments. The dollar fell to an over two-year low, pressured by the Fed's latest average inflation target policy, which will allows rates to stay low even if inflation rises a bit in the future. Low interest rates tend to support gold, which is a hedge against inflation and currency depreciation. "At present there is less risk aversion in the global marketplace, which is somewhat constraining the safe-haven metal's bulls," Kitco Metals senior analyst Jim Wyckoff said in a note. A gauge of global stocks was on track for a fifth straight month of gains. "There is a significant concern that the (equities) market might have gotten extended and there might be some profit taking coming, which may lead to a rotation back to gold," Sica said. Gold has gained about 29% this year, supported by economic uncertainty stemming from the pandemic as well as the upcoming U.S. elections. Elsewhere, silver jumped 2.7% to $28.23 an ounce, on track for a fifth monthly gain. Platinum eased 0.3% to $928.36, while palladium rose 1.7% to $2,243.17. Both were set for their second straight monthly gain. (Reporting by K. Sathya Narayanan in Bengaluru; Editing by David Gregorio and Steve Orlofsky)

PRECIOUS-Gold surges over 2% on waning dollar, Fed policy shift

29 Aug 2020

* Interactive graphic tracking global spread of coronavirus: open https://tmsnrt.rs/3aIRuz7 in an external browser (Updates prices)

PRECIOUS-Gold dives 2% as U.S. Treasury yields gain after Fed comments

28 Aug 2020

* Interactive graphic tracking global spread of coronavirus: open https://tmsnrt.rs/3aIRuz7 in an external browser (Adds comments and updates prices)

PRECIOUS-Gold gains on stimulus bets; Powell's speech in focus

27 Aug 2020

* Dollar eases 0.1% * Silver rises over 3% * Interactive graphic tracking global spread of coronavirus: open https://tmsnrt.rs/3aIRuz7 in an external browser (Adds comment, updates prices) By K. Sathya Narayanan Aug 26 Gold jumped over 1% on Wednesday as the dollar slipped on the eve of a speech from Federal Reserve Chairman Jerome Powell, and as investors bet on further stimulus to mitigate the impact of the coronavirus pandemic. Spot gold rose 1% to $1,948.07 per ounce by 02:18 p.m. EDT (1818 GMT), after declining to a two-week low early in the session. U.S. gold futures settled up 1.5% at $1,952.50. "The dollar is showing a little bit of weakness. They (investors) are trading on hopes and expectations that there is further stimulus to come," said Jeffrey Christian, managing partner of CPM Group. The dollar eased 0.1% against key rivals, making gold cheaper for investors holding other currencies. Powell is set to speak at a virtual Jackson Hole symposium on Thursday, where he is expected to offer more insight on the U.S. central bank's strategy on inflation and monetary policy. Last week's Fed minutes gave few clues about whether a shift to easier policy is possible in coming months. Global central banks and governments have released massive stimulus to prop up their economies from the impact of the pandemic. This has pushed gold up about 28% so far this year as it is seen as a hedge against inflation and currency debasement. "Investors are waiting for something to come from the U.S. Treasury, and for (the U.S.) Congress to come to an agreement (on the stimulus bill)," said Bob Haberkorn, senior market strategist at RJO Futures, adding that further dovishness from the Fed will also be bullish for gold. Investors were watching for any developments in the U.S. coronavirus aid negotiations. U.S. Treasury Secretary Steven Mnuchin will testify before a House of Representatives panel next week. Silver rose 3.5% to $27.34 an ounce, platinum was up 0.3% to $929.91 and palladium gained 0.9% to $2,183.43. (Reporting by K. Sathya Narayanan in Bengaluru; Editing by David Gregorio, Tom Brown and Richard Chang)

PRECIOUS-Gold prices falls on optimism over U.S.-China trade deal

25 Aug 2020

* U.S.-China trade officials reaffirmed Phase 1 deal commitment

India's crude imports fall to lowest in over a decade in July

20 Aug 2020

India's crude oil imports fell in July to their lowest since March 2010 as fuel demand slowed amid renewed coronavirus-induced lockdowns and closures of refinery units for maintenance, government data showed on Thursday.

RPT-Asia Rice-Supply squeeze lifts Vietnam rates to more than 8-year high

14 Aug 2020

* Indian mills operating at low capacity due to lack of workers

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