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Gold prices steady as interest rate outlook pressures dollar

Reuters  |  BENGALURU 

BENGALURU (Reuters) - Gold prices held near seven-month highs on Thursday as the dollar was pressured by rising expectations the will keep steady this year, while investors also waited for further on Sino-U.S. trade talks.


* Spot gold was a tad lower at $1,292.46 per ounce at 0141 GMT, hovering near Friday's peak of $1,298.42 - a level last seen in June.

* U.S. gold futures rose 0.1 percent to $1,293.20 per ounce.

* Palladium dipped 0.8 percent to $1,316.00, having scaled an all-time peak of $1,342.43 per ounce on Wednesday after a Chinese said the government was contemplating policies to increase domestic buying of automobiles.

* The dollar index, which tracks the greenback against major currencies, was marginally lower during early Asian trade.

* A range of policymakers said last month that they could be patient about future interest rate increases and a few did not support the central bank's rate increase that month, minutes from their Dec. 18-19 policy meeting showed.

* China's commerce ministry said on Thursday that trade talks with the this week were extensive, deep and detailed, and established a foundation for the resolution of each others' concerns.

* Asian shares began cautiously on Thursday, struggling to rise after a multi-day rally.

* U.S. stormed out of talks with Democratic congressional leaders on Wednesday over funding for a border wall with and reopening the government, complaining the meeting in the was "a total waste of time".

* The is currently on the 19th day of a partial shutdown caused by the dispute over the wall.

* Meanwhile, British suffered an early defeat to her Brexit plans on Wednesday when parliament demanded the government come up with a plan-B within days if she loses a vote on her deal to leave the

* Holding in the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, rose 0.33 percent to 799.18 tonnes on Wednesday. [GOL/ETF]


0130 Consumer prices(Dec)

0130 Producer prices(Dec)

1330 U.S. Initial jobless claims

1745 U.S. Fed Chair Jerome Powell speaks at Economic Club of Washington

(Reporting by K. Sathya Narayanan in Bengaluru; Editing by Joseph Radford)

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

First Published: Thu, January 10 2019. 09:19 IST