Gold prices steadied on Tuesday as investors looked to see if US President Donald Trump will be able to enact promised tax cuts and infrastructure spending, taking the dollar off multi-month lows.
* Spot gold was mostly unchanged at $1,254.12 per ounce at 0102 GMT, after touching $1,261.03, the highest in a month, in the previous session.
* U.S. gold futures inched down 0.1 percent to $1,253.9.
* Asian stocks pulled ahead on Tuesday after Wall Street steadied and the dollar bounced from a four-month-low, as concern over Trump’s setback on his healthcare reform bill gave away to tentative hopes for the U.S. President’s planned stimulus policies.
* Trump suffered a major reversal when Republican leaders pulled legislation to overhaul the U.S. healthcare system. The blow unnerved financial markets, heightening worries about the chances of enacting tax reforms and big spending packages.
* Dallas Federal Reserve Bank President Robert Kaplan said on Monday that he will support further interest rate hikes if the U.S. economy continues to make progress towards its goals of full employment and 2-percent inflation.
* The case for four interest rate hikes in the United States this year is not yet solid and would require a stronger lift in inflation, Chicago Federal Reserve Bank President Charles Evans said at an event in Madrid.
* Evans said he saw three rate hikes in 2017 as “plausible”, but added that two or four increases were also a possibility.
* Kenya’s bourse admitted its first ever exchange traded fund (ETF) on Monday, a cross-listing of the Barclays NewGold ETF, which was originally listed in South Africa.
* Russia, Kazakhstan raise gold holdings in February -IMF * China’s net-gold imports via main conduit Hong Kong surged 50.8 percent month-on-month in February, data showed on Monday.
* A Canadian gold coin named “Big Maple Leaf” which bears the image of Queen Elizabeth II was stolen in the early hours of Monday morning from Berlin’s Bode Museum.