Feb 6 (Reuters) - Gold prices were little changed on
Thursday as strong U.S. economic data was offset by fears over a
rapidly spreading coronavirus outbreak and its impact on the
global economy.
FUNDAMENTALS
* Spot gold XAU= was flat at $1,556.36 per ounce by 0100
GMT. Prices hit a more than two-week low of $1,546.90 in the
previous session. U.S. gold futures GCv1 fell 0.2% to
$1,559.30.
* Another 73 people on the Chinese mainland died on
Wednesday from the virus outbreak, the highest daily increase so
far, bringing the total death toll to 563, the country's health
authority said. * Positive data from the United States such as the rise in
January private payrolls and services sector activity, suggested
the economy could continue to grow moderately this year.
* The U.S. trade deficit fell for the first time in six
years in 2019 as the White House's trade war with China curbed
the import bill. * Asian stocks edged up after U.S. stocks hit a record peak
following encouraging U.S. data, although investors remained
wary about the impact from the virus outbreak. MKTS/GLOB
* The dollar .DXY held close to a two-month high hit in
the previous session, against a basket of rival currencies, on
the back of robust U.S. economic data. USD/
* The World Health Organization played down media reports of
"breakthrough" drugs being discovered to treat people infected
with the new coronavirus. * The China virus outbreak is adding to global economic
uncertainty but its impact may be short term and temporary,
limiting the need for policy action, top European Central Bank
executives said. * U.S. President Donald Trump was acquitted on Wednesday in
his U.S. Senate impeachment trial, saved by fellow Republicans
who rallied to protect him nine months before he asks voters to
give him a second White House term. * Palladium XPD= remained unchanged at $2,431.69 an ounce,
silver XAG= rose 0.4% to $17.67, and platinum XPT= edged
higher by 0.1% to $982.60.
DATA/EVENTS (GMT)
0615 India Cash Reserve Ratio Feb 6
0615 India Repo Rate Feb 6
0615 India Reverse Repo Rate Feb 6
0700 Germany Industrial Orders MM Dec
1330 US Initial Jobless Claims Weekly