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Gold inches down from near-two month high

Reuters  |  BENGALURU 

(Reuters) - Gold prices edged lower early Thursday, moving away from near two-month highs hit in the previous session as safe haven demand triggered by rising tensions in the Korean peninsula eased.

FUNDAMENTALS

* Spot gold fell 0.2 percent to $1,275.10 per ounce at 0058 GMT. The metal rose 1.3 percent in the previous session, its biggest gain since mid-May, and touched $1,278.66 an ounce, it highest level since June 14.

* U.S. gold futures for December delivery rose 0.2 percent to $1,281.20 per ounce.

* North Korea dismissed on Thursday warnings by U.S. President Donald Trump that it would face "fire and fury" if it threatened the United States as a "load of nonsense", and outlined detailed plans for a missile strike near the Pacific territory of Guam.

* Asian stocks steadied and U.S. Treasury bond prices fell slightly on Thursday as the risk aversion triggered by the latest flare up of tensions between the United States and North Korea began to settle.[MKTS/GLOB]

* A raid on the Virginia home of President Donald Trump's former 2016 election campaign manager showed an investigation of possible ties between the campaign and Russia is intensifying and focused on the financial dealings of Trump associates, sources familiar with the probe said.

* Japan's core machinery orders unexpectedly fell for a third straight month in June, underscoring companies' reluctance to boost spending and conflicting with recent signs that the economic recovery is gathering momentum.

* Washington imposed sanctions on eight Venezuelan officials on Wednesday for their role in creating an all-powerful legislative body loyal to President Nicolas Maduro, while a mayor-turned-fugitive called for more anti-government protests.

(Reporting by Nithin Prasad in Bengaluru; Editing by Richard Pullin)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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