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Gold prices hold steady, eyes on Fed meeting

Reuters  |  BENGALURU 

BENGALURU (Reuters) - prices were steady in early Asian trade on Thursday, while the dollar edged higher and investors turned their attention to this week's meeting for clues on future interest rate hikes.


* Spot was flat at $1,225.61 per ounce at 0115 GMT.

* U.S. futures was down 0.2 percent to $1,226.6 per ounce.

* Asian stocks rose on Thursday as investors, relieved to have moved past the U.S. midterm elections without any major political surprises, drove a Wall Street rally, while the dollar clawed back some of its earlier losses. [USD/][MKTS/GLOB]

* The dollar index <.DXY>, which measures the greenback against a basket of six major currencies, inched up 0.2 percent.

* The U.S. began its policy meeting on Wednesday facing a shifting political landscape but little in recent economic data to alter plans for an interest rate increase in December and more to come next year.

* The Fed's policy statement is scheduled to be released at 2 p.m. (1900 GMT) on Thursday, and analysts do not foresee major changes.

* The top Democrat in the pledged a new era of congressional scrutiny over on Wednesday, shrugging off threats of political warfare if Democrats launch investigations into his affairs.

* Trump on Wednesday forced out Jeff Sessions a day after congressional elections, and vowed to fight if the U.S. House of Representatives' new Democratic majority launches probes into his administration.

* The chances of sealing a deal on Britain's withdrawal from the this month are receding, Irish said on Wednesday.

* The would have to see a breakthrough on Brexit within a week if its leaders are to endorse any deal with Britain in November, several and diplomatic sources in said on Wednesday.

* The of the European told the Italian minister at a closed-door meeting that Italy's high debt requires a degree of fiscal discipline that goes beyond what is mandated by EU regulations, two EU sources said.

* SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings fell 0.19 percent to 755.23 tonnes on Wednesday from 756.70 tonnes on Tuesday.


* China Trade data Oct

0700 Germany Trade data Sept

0745 France Trade data Sept

1330 U.S. Weekly jobless claims

1900 U.S. issues statement after two-day

policy meeting

(Reporting by Eileen Soreng in Bengaluru; editing by Richard Pullin)

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

First Published: Thu, November 08 2018. 07:03 IST