Feb 5 (Reuters) - Gold prices inched up on Wednesday after a
sharp drop in the previous session, as a virus outbreak from
China spread further and the death toll neared 500, although
risk appetite was buoyed by Beijing's efforts to mitigate its
economic impact.
FUNDAMENTALS
* Spot gold XAU= was up 0.2% to $1,555.41 per ounce by
0050 GMT. Prices declined over 1.5% on Tuesday to their lowest
since Jan. 21 at $1,548.70. U.S. gold futures GCv1 rose 0.2%
to $1,558.40.
* The coronavirus outbreak claimed its first life in Hong
Kong, compounding the international financial centre's problems
after anti-government protests, and Macau, the world's biggest
gambling playground, urged casinos to shut their doors.
* China's death toll from the coronavirus rose to 479 by the
end of Feb. 4, Chinese state television reported. * The White House's top economic adviser said on Tuesday
that the coronavirus would delay a surge in U.S. exports to
China expected from the Phase 1 trade deal set to take effect
later this month. * Chinese policymakers are readying measures to support an
economy jolted by the outbreak that is expected to have a
devastating impact on first-quarter growth, policy sources said.
* Global shares gained ground on China's stimulus measures
to boost its economy. MKTS/GLOB
* A report from the U.S. Commerce department showed a rise
in new orders for U.S.-made goods by the most in nearly 1-1/2
years in December, flattered by robust demand for defence
aircraft even as underlying softness remains. * India's gold imports in January plunged 48% from a year
earlier to their lowest in four months as a rally in local
prices to near record highs prompted buyers to curtail
purchases, a government source said. * Burkina Faso's gold production probably fell slightly last
year due partly to security problems and attacks targeting
industrial miners, the country's mines minister said.
* Palladium XPD= fell 0.4% to $2,423.50 an ounce, silver
XAG= inched up 0.1% to $17.60, and platinum XPT= fell 0.7%
to $956.50.
DATA/EVENTS (GMT)
0145 China Caixin Services PMI Jan
0500 India IHS Markit Svcs PMI Jan
0850 France Markit Serv, Comp PMIs Jan
0855 Germany Markit Services PMI Jan
0855 Germany Markit Comp Final PMI Jan
0900 EU Markit Serv, Comp Final PMIs Jan
0930 UK Reserve Assets Total Jan
1330 US International Trade Dec
1445 US Markit Serv, Comp Final PMIs Jan
1500 US ISM N-Mfg PMI Jan