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Gold steady ahead of Fed meet, awaits clarity on fresh US tariffs

“The central bank is widely expected to keep interest rates on hold in the range of 1.50% to 1.75%” reports cnbc.com. Investors were also looking forward to New European Central Bank boss Christine Lagarde’s first policy meeting on Thursday.Gold prices held steady on Tuesday, ahead of a policy meeting by the U.S. central bank, while investors awaited clarity on whether a next round of U.S. tariffs on Chinese imports will take effect this weekend.The U.S. Federal Reserve’s two-day policy meeting starts later in the day.Spot gold was down 0.1% to…

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Gold rises as prospects of US tariffs lift safe-haven demand

“Palladium shed 0.2% to $1,873.74 per ounce, having hit a record peak at $1,880.65 in the previous session” reports cnbc.com. Spot gold was up 0.1% at $1,460.40 per ounce, as of 0158 GMT, after having slid 1% in the previous session, its biggest one-day drop in a month.Holdings of the world’s largest gold-backed exchange-traded fund SPDR Gold Trust, fell 0.26% to 886.23 tonnes on Friday. Source: cnbc.com

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Gold prices recoup some of their recent losses ahead of U.S. jobs data

“Downbeat economic data tends to support haven demand for gold” writes Saefong William Watts for marketwatch.com. Gold futures finished higher Thursday, recouping much of the losses suffered a day earlier, as traders awaited monthly domestic employment data due at the end of the week, which may influence haven demand for the precious metal. January platinum PLF20, -0.26%  declined 0.1% to $900.60 an ounce, while March PAH20, -0.05%  added 0.02% to $1,845.70 an ounce.Gold for February delivery GCG20, +0.06%  on Comex added $2.90, or 0.2%, to settle at $1,483.10 an ounce,…

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Gold steady as dollar weakens on sour US data

“Gold prices steadied on Thursday as the U.S. dollar slipped on the back of a weaker-than-expected job growth data, despite positive signals from U.S.-China trade talks” reports cnbc.com. The dollar index was down against a basket of rivals, falling for a fifth-consecutive session, making gold cheaper for holders of other currencies.An employee arranges one kilogram gold bars at the Perth Mint Refinery in Perth, Australia, on Aug. 9, 2018.Spot gold rose 0.1% to $1,475.37 per ounce by 0100 GMT. Prices had hit $1,484 in the previous session, their highest level…

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Gold prices fall from one-month peak as report indicates progress in U.S.-China talks

“Gold futures slipped lower Wednesday, pulling back from a nearly one month high, as a recent report that trade talks between Beijing and Washington are progressing dulled some haven demand for the metal” writes Markets Commodities Reporter for marketwatch.com. January platinum PLF20, -1.12%  fell by 0.5% to $907.10 an ounce, while March palladium PAG20, +0.00%  traded at $1,836.80 an ounce, up 0.7%.The developments around trade come ahead of a Dec. 15 deadline for the imposition of fresh import tariffs on China.March silver SIH20, -1.87%, meanwhile, shed 18.8 cents, or 1.1%,…

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Gold prices tread water despite Trump’s Latin America tariffs

“Spot gold slipped 0.1% to $1,460.92 per ounce by 0506 GMT. U.S. gold futures fell 0.2% to $1,466.60” reports cnbc.com. Gold prices were trading in a narrow range on Tuesday as investors stayed on the sidelines, even as U.S. President Donald Trump’s move to slap tariffs on Brazil and Argentina stoked fresh global trade tensions.”In SPDR gold exchange-traded funds (ETF), flows have reduced, investor demand has faltered and that is why gold prices have not reacted to the uncertainties to the trade matters,” he said.Gold has risen more than 13%…

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Gold gives up ground after upbeat China manufacturing data

“Gold lost ground Monday, losing its haven appeal after a round of upbeat data on Chinese manufacturing activity sparked appetite for stocks and other assets perceived as risky” writes Deputy Markets Editor for marketwatch.com. Relatively good Chinese data are causing the gold price to correct again as the new week gets under way,” said Daniel Briesemann, analyst at Commerzbank, in a note.Higher yields can dent demand for gold, raising the opportunity cost of holding a nonyielding asset.Briesemann, however, said uncertainty around U.S.-China trade talks could help keep a floor under…

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Gold eyes worst month in three years amid trade deal hopes

“Gold slipped on Friday and was set for its worst month in three years as hopes for a U.S.-China trade deal supported demand for riskier assets and the dollar, weighing on the safe-haven metal” reports cnbc.com. An employee returns a box of one kilogram gold bars to the safe in Budapest, Hungary, on June 17, 2013.Spot gold fell 0.1% to $1,456.30 per ounce by 0116 GMT. Prices are down almost 4% this month, on track for their biggest monthly decline since November 2016.Palladium was little changed at $1,840.67 per ounce,…

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Gold gains as Hong Kong tensions fuel trade deal doubts

“Spot gold was up 0.1% at $1,456.22 per ounce by 0406 GMT. U.S. gold futures rose 0.1% to $1,455.20” reports cnbc.com. Canadian maple leafs sit on the faces of one ounce gold coins in London, the United Kingdom, on July 15, 2014.Gold inched up on Thursday as investors bought the safe-haven metal on doubts about whether the United States and China will seal a trade deal after President Donald Trump signed a legislation supporting Hong Kong protesters.Gold had eased 0.5% in the last session on a raft of upbeat economic…

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Gold closes lower as U.S. stock market rallies ahead of Thanksgiving

“Gold for February delivery [s:GCG20], the most active contract on Comex, fell $6.60, or 0.4%, to end Wednesday at $1,460.80 an ounce, as buoyant demand for U.S. stocks ahead of the Thanksgiving holiday kept pressure on the precious metal” writes Markets Reporter for marketwatch.com. A positive tone around the U.S. economy and hopes for a partial U.S. and China trade détente have helped propel all three major stock indexes to fresh highs this week, while keeping demand for haven assets, including metals and U.S. Treasury debt, on the light side.January…

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