(Reuters) - Gold rose to its highest in four weeks on Thursday as the U.S. dollar retreated from a 14-year peak touched earlier this week.
FUNDAMENTALS
* Spot gold was up 0.4 percent at $1,167.98 an ounce by 0032 GMT. It earlier hit its highest since Dec. 9 at $1,169.52.
* U.S. gold futures climbed 0.3 percent to $1,168.70 per ounce.
* The dollar index , which measures the greenback against a basket of currencies, fell 0.5 percent to 102.170.
Also Read
* Almost all Federal Reserve policymakers thought the U.S. economy could grow more quickly because of fiscal stimulus under the Trump administration and many were eyeing faster interest rate increases, minutes from the central bank's December meeting showed.
* Businesses across the euro zone ended 2016 by ramping up activity at the fastest pace for 5-1/2 half years, a survey showed on Wednesday, as a weaker currency boosted demand for their goods and services in December.
* Japanese manufacturing activity expanded at the quickest pace in a year in December as orders picked up, a private survey showed on Wednesday, in an encouraging sign that the struggling economy may be regaining momentum.
* Gold imports to Turkey rose to 36.7 tonnes in December, up from 4.65 tonnes in the same period a year earlier, their highest monthly level in just over two years, data from the Istanbul bourse showed on Wednesday.
* The Perth Mint's sales of gold products rose in December, while silver sales more than halved, the mint said in a blog post on its website on Wednesday.
* Holdings of the SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, have dropped about 14 percent since the U.S. presidential election in November. They were unchanged on Wednesday at 813.87 tonnes.
* For the top stories on metals and other news, click [TOP/MTL] or [GOL]
MARKET NEWS
* Oil prices were firm on Thursday, buoyed by data showing a fall in U.S. crude inventories and by record car sales in the United States. [O/R]
* Asian stocks edged higher on Thursday, underpinned by a firm Wall Street. [MKTS/GLOB]
(Reporting by Nallur Sethuraman in Bengaluru; Editing by Joseph Radford)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app