Gold was broadly steady early Friday, after dropping nearly 1.5 percent in the previous session, as markets pondered the economic growth outlook and the timing of a US interest rate hike following the election of Donald Trump.
* Spot gold was up about 0.2 percent at $1,261.71 an ounce at 0038 GMT.
* U.S. gold futures were down 0.4 percent at $1,261.50 per ounce.
* Asian shares dipped while the dollar strengthened broadly on Friday as US bond yields soared on expectations US President-elect Donald Trump’s policies would stoke inflation.
* The dollar index, which measures the greenback against a basket of major currencies, was steady at 98.856.
* The number of Americans filing for unemployment benefits fell more than expected last week, underscoring the robustness of the labor market.
* The Republican sweep of the White House and Congress could break the current gridlock over national policy in a potential boon to the US economy, St. Louis Federal Reserve bank president James Bullard said on Thursday.
* The Federal Reserve could raise interest rates more quickly if Washington used lower taxes or higher spending to boost economic growth, Richmond Fed President Jeffrey Lacker said on Thursday.
* Investors are starting to price in a slim chance that the European Central Bank will raise interest rates next year for the first time since 2011, with bets reinforced by sharply rising inflation expectations on Thursday.
* SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings fell 1.40 percent to 941.68 tonnes on Thursday from 955.03 tonnes on Wednesday.
* India’s surprise move to abolish high-value bank notes has started to disrupt cash-based gold smuggling and should benefit official importers of the metal in the world’s second biggest consumer, industry officials said.