PRECIOUS-Gold steady below 2-week peak, trade talks optimism weighs

Published 24/09/2019, 03:18
© Reuters.  PRECIOUS-Gold steady below 2-week peak, trade talks optimism weighs
XAU/USD
-
GC
-
GLD
-
DXY
-

Sept 24 (Reuters) - Gold prices were steady in early Asian

trade on Tuesday, after rising to a more than two-week peak in

the previous session on global slowdown fears and tensions in

the Middle East, while an improved Sino-U.S. trade tone weighed

on the yellow metal.

FUNDAMENTALS

* Spot gold XAU= was little changed at $1,521.01 per

ounce, as of 0155 GMT. Prices had climbed to their highest level

since Sept. 6 at $1,526.80 in the previous session.

* U.S. gold futures GCv1 were down 0.3% at $1,527.1 per

ounce.

* Against a basket of currencies, the dollar .DXY was up

0.1%, while U.S. stock futures gained in early Asian trade.

USD/ MKTS/GLOB

* U.S. Treasury Secretary Steven Mnuchin said on Monday that

he and U.S. Trade Representative Robert Lighthizer would meet

with Chinese Vice Premier Liu He for trade talks in two weeks.

* U.S. President Donald Trump on Monday questioned a

decision by his top trade negotiators to ask Chinese officials

to delay a planned trip to U.S. farming regions after trade

talks last week, saying he wanted China to buy more American

farm products. * The Federal Reserve has delivered a boost to the economy

this year not only with interest-rate cuts but also because it

shifted away from its earlier view that it would need to raise

rates in 2019, two Fed policymakers said on Monday. * Britain, Germany and France backed the United States and

blamed Iran on Monday for an attack on Saudi oil facilities,

urging Tehran to agree to new talks with world powers on its

nuclear and missile programs and regional security issues.

* Britain's top court will rule on Tuesday whether Prime

Minister Boris Johnson's decision to suspend parliament was

unlawful, a judgment that could lead to the recall of the

legislature and give lawmakers more chance to obstruct his

Brexit plans. * Euro zone business growth stalled this month, a survey

showed on Monday, dragged down by shrinking activity in

powerhouse Germany, where a manufacturing recession deepened

unexpectedly. * Japanese manufacturing activity shrank at the fastest pace

in seven months in September, underscoring the broadening

economic impact of the Sino-U.S. trade dispute and keeping

policymakers under pressure to step up stimulus. * SPDR Gold Trust GLD , the world's largest gold-backed

exchange-traded fund, said its holdings rose 1.61% to 908.52

tonnes on Monday. AHEAD

0645 France Business Climate Mfg Sept

0800 Germany Ifo Business Climate New Sept

0800 Germany Ifo Curr Conditions New Sept

0800 Germany Ifo Expectations New Sept

1000 UK CBI Trends - Orders Sept

1300 US CaseShiller 20 MM SA, YY July

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.