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Gold prices inch up amid Brexit uncertainty, subdued dollar

Reuters  |  BENGALURU 

BENGALURU (Reuters) - prices edged up in early Asian trade on Tuesday after hitting a two-week high in the previous session, amid political uncertainty over Brexit and as the U.S. dollar remained subdued.


* Spot was up 0.1 percent at $1,258.12 an ounce at 0057 GMT. The touched its highest since June 26 at $1,265.87 on Monday.

* U.S. futures for August delivery were 0.1-percent lower at $1,258.70 an ounce.

* The dollar index, which measures the greenback against a basket of six major currencies, was steady at 94.028. It fell to its lowest since mid-June in the previous session. [USD/]

* Theresa May's quit on Monday in protest at her plans to keep close trade ties with the after Britain leaves the bloc, stirring rebellion in her party's ranks. [nL8N1U40XR]

* Britain's ramshackle exit from the EU could damage economic growth in the euro zone, policymaker said. [nL8N1U53WJ]

* and signed a raft of commercial accords worth some 20 billion euros ($23.5 billion) on Monday, with their leaders reiterating commitments to a multilateral global trade order despite a looming trade war with the [nL8N1U54DV]

* suggested on Monday that might be seeking to derail U.S. efforts aimed at denuclearizing North Korea, but said he was confident that North Korean leader would uphold a pact the two agreed on last month. [nL1N1U50JG]

* The ECB will take a "wait and see" approach to any tightening of monetary policy after it keeps negative rates on hold through the summer of 2019, member said on Monday. [nZ8N1OC00X]

* The maintained its upbeat economic assessment for all nine regions of the country but some areas saw companies fret about rising costs from labour shortages, a sign that a tightening job market could constrain business activity. [nL4N1U5287]

* Speculators raised their net long position in COMEX gold contracts in the week to July 3, data showed on Monday. [CFTC/]

* Holdings of SPDR Gold Trust , the world's largest gold-backed exchange-traded fund fell 0.18 percent to 800.77 tonnes on Monday. [GOL/ETF]

* Canadian and China's <600547.SS> on Monday said they would deepen cooperation beyond their Argentinian joint venture, potentially working together on acquisitions. [nL4N1U52SY]


0130 Consumer prices June

0130 China prices June

0645 France Industrial output May

0900 ZEW economic sentiment July

1000 U.S. NFIB business optimism June

(Reporting by Karen Rodrigues 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.)

First Published: Tue, July 10 2018. 06:57 IST