Gold inched up on Friday as optimism over US-China trade talks pressured the dollar, but signs the US Federal Reserve could raise interest rates again this year kept prices below 10-month highs hit
this week.
FUNDAMENTALS
Spot gold had risen 0.11 per cent to $1,324.63 per ounce by 0053 GMT,
after touching its strongest in 10 months on Wednesday at $1,346.73.
US gold futures were steady at $1,327.5 per ounce.
The dollar index against a basket of six major currencies was
little changed at 96.582 after edging up about 0.15 per cent
overnight when long-term Treasury yields surged to a one-week
high amid news of progress in US-China trade talks.
Top US and Chinese trade negotiators resumed high-level talks
on Thursday to hash out a deal that could end their trade war,
just over a week before a US-imposed deadline to reach agreement
expires and triggers a new round of tariffs.
Russia Raised Gold Holdings by 6.2 Tonnes in January -IMF.
SPDR Gold Trust, the world's largest gold-backed exchange-traded fund,
said its holdings fell 0.63 per cent to 789.51 tonnes on Thursday
from 794.50 tonnes on Wednesday.
this week.
FUNDAMENTALS
Spot gold had risen 0.11 per cent to $1,324.63 per ounce by 0053 GMT,
after touching its strongest in 10 months on Wednesday at $1,346.73.
US gold futures were steady at $1,327.5 per ounce.
The dollar index against a basket of six major currencies was
little changed at 96.582 after edging up about 0.15 per cent
overnight when long-term Treasury yields surged to a one-week
high amid news of progress in US-China trade talks.
Top US and Chinese trade negotiators resumed high-level talks
on Thursday to hash out a deal that could end their trade war,
just over a week before a US-imposed deadline to reach agreement
expires and triggers a new round of tariffs.
Russia Raised Gold Holdings by 6.2 Tonnes in January -IMF.
SPDR Gold Trust, the world's largest gold-backed exchange-traded fund,
said its holdings fell 0.63 per cent to 789.51 tonnes on Thursday
from 794.50 tonnes on Wednesday.
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