1. Gold steady, marks time ahead of Fed minutes

Gold steady, marks time ahead of Fed minutes

Gold held steady early Wednesday as markets await minutes from the November Federal Reserve policy meeting for more clues on an anticipated interest rate hike.

By: | Published: November 23, 2016 8:04 AM
Spot gold nudged up 0.1 percent to ,213.04 an ounce by 0030 GMT. In the previous session, the metal eased 0.15 percent. (Reuters) Spot gold nudged up 0.1 percent to ,213.04 an ounce by 0030 GMT. In the previous session, the metal eased 0.15 percent. (Reuters)

Gold held steady early Wednesday as markets await minutes from the November Federal Reserve policy meeting for more clues on an anticipated interest rate hike.

FUNDAMENTALS

* Spot gold nudged up 0.1 percent to $1,213.04 an ounce by 0030 GMT. In the previous session, the metal eased 0.15 percent.

* U.S. gold futures rose 0.1 percent at $1,212.60 per ounce.

* The dollar index, which measures the greenback against a basket of major currencies, was little changed at 100.990.

* U.S. home resales rose in October to their highest level in more than 9-1/2 years as homebuyers, buoyed by an improving labor market, took advantage of still-low mortgage rates to snatch up properties after many were shut out during the busy summer selling season.

* Wall Street’s three main stock indexes ended at record highs for a second straight day on Tuesday, while European shares also rose on expectations that markets would benefit from U.S. President-elect Donald Trump’s policies.

* Donald Trump’s U.S. presidential victory has spurred safe-haven buying of physical gold in Europe, but traditional bullion holders in the United States are standing pat. After all, many of them are optimistic after voting for Trump.

* Switzerland became a net exporter of gold for the first time in nearly a year last month as shipments to India surged to their highest since January and exports to Hong Kong hit a 2016 peak, Swiss customs data showed on Tuesday.

* The European Union agreed a deal on Tuesday to stem the flow of gold and other metals used to fund armed conflicts or produced in conditions that breach human rights.

* SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings fell 0.42 percent to 904.91 tonnes on Tuesday from 908.77 tonnes on Monday.

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