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PRECIOUS-Gold rises on uncertainty over Sino-U.S. trade deal

Published 21/11/2019, 02:29
PRECIOUS-Gold rises on uncertainty over Sino-U.S. trade deal
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Nov 21 (Reuters) - Gold prices rose on Thursday as a fresh

spar between the United States and China over U.S. bills on Hong

Kong ignited worries that trade talks could hit a snag and delay

an interim deal.

FUNDAMENTALS

* Spot gold XAU= rose 0.2% to $1,474.24 per ounce by 0033

GMT, while U.S. gold futures GCv1 were flat at $1,474.10 per

ounce.

* The U.S. House of Representatives on Wednesday passed two

bills to back protesters in Hong Kong and send a warning to

China about human rights, with President Donald Trump expected

to sign them into law, despite delicate trade talks with

Beijing. * On Tuesday, the U.S. Senate passed a bill requiring annual

certification of Hong Kong's autonomy and warning Beijing

against violently suppressing protesters. China demanded

Washington stop interfering in its internal affairs and said it

would retaliate. * A "phase one" trade deal could slide into next year, trade

experts and people close to the White House said. * Global shares slid as the row between Washington and

Beijing over Hong Kong protests sparked worries that the trade

negotiations could get rattled and delay a deal. MKTS/GLOB

* A divided U.S. Federal Reserve that decided to hit pause

in its easing cycle following a rate cut in October signalled in

minutes of last month's meeting that it was in no hurry to

reassess the path of interest rates. * China lowered its lending benchmark rate, as widely

expected, to reduce company funding costs and shore up an

economy hurt by slowing demand and U.S. trade tariffs.

* In the euro zone, a range of economic data for the second

half of the year points to continuing moderate growth, one of

the newest members of the European Central Bank's governing

council said. * South African mining firm AngloGold Ashanti ANGJ.J

reached an agreement with Guinea's government to resume

operations at its Siguiri gold mine, which were suspended last

week, the Guinean mines minister said. * Silver demand will creep up by 1% this year, reducing

global oversupply to the lowest since 2015, as slowing global

economic growth amid the tariff war has weakened demand for the

industrial metal, consultancy Metals Focus said. * Elsewhere, silver XAG= rose 0.1% to $17.16 per ounce,

palladium XPD= edged up 0.1% to $1,768.87 per ounce and

platinum XPT= advanced 0.1% to $917.97 per ounce.

DATA/EVENTS (GMT)

0745 France Business Climate Mfg Nov

1330 US Initial Jobless Claims Weekly

1330 US Philly Fed Business Indx Nov

1500 US Existing Home Sales Oct

1500 EU Consumer Confid. Flash Nov

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