March 23 (Reuters) - Gold prices fell on Tuesday, dragged
down by gains in equity markets and the dollar, although
concerns around fresh coronavirus cases across Europe limited
losses.
FUNDAMENTALS
* Spot gold XAU= fell 0.3% to $1,733.69 per ounce by 0119
GMT. U.S. gold futures GCv1 were down 0.1% to $1,736.20 per
ounce.
* Asian stocks were set to track overnight Wall Street
gains, as bond yields pulled back, easing concerns about
inflation. MKTS/GLOB .N
* The dollar gained slightly, after it stumbled from
four-month highs against a basket of currencies in the preceding
session in line with a dip in U.S. Treasury yields. USD/ US/
* Limiting the safe-haven metal's losses, however, was a
third wave of COVID-19 across Europe due to highly contagious
coronavirus variants. This has raised concerns about another
round of restrictions, with Paris going into a four-week
lockdown late last week.
* AstraZeneca (NASDAQ:AZN)'s AZN.L COVID-19 vaccine performed better
than expected in a major late-stage trial, paving the way for
its potential emergency authorization in the United States and
boosting confidence in the shot after setbacks in Europe.
* The U.S. economy is "much improved," Federal Reserve Chair
Jerome Powell said on Monday, but at the same time warned that
the recovery is still "far from complete." * The European Central Bank increased bond purchases by
nearly half last week, ramping up its stimulus efforts to keep a
lid on borrowing costs and convince sceptical investors it would
do what it takes to restrain bond yields. * Holdings of the largest gold-backed exchange-traded-fund
(ETF), New York's SPDR Gold Trust GLD , rose 0.3% on Friday
from Thursday. GOL/ETF
* Palladium XPD= rose 0.4% to $2,625.52, Silver XAG=
fell 0.6% to $25.61 and platinum XPT= was down 0.3% at
$1,179.59.
DATA/EVENTS (GMT)
0700 UK Claimant Count Unem Chng Feb
0700 UK ILO Unemployment Rate Jan
1400 US New Home Sales-Units Feb
1600 US Federal Reserve Chair Jerome Powell gives virtual
testimony on coronavirus aid, relief, and Economic Security Act
before the House Financial Services Committee