PRECIOUS – Gold close to 2-week low as the dollar rebounds from Sino-US trade concerns


February 28 (Reuters) – Gold prices on Thursday remained close to two-week lows in the previous session as the dollar rebounded after cautious comments by US Trade Representative Robert Lighthizer raised concerns about the progress in US-China trade negotiations.


* Spot gold fell 0.1 percent to $ 1,318.06 per ounce from 0132 GMT after reaching its lowest level since February 15 at 1316.43 in the previous session.

* US gold futures were stable at $ 1,321.40 an ounce.

* The dollar remained firm above a three-week low against major currencies.

The United States will need to maintain the threat of tariffs on Chinese products for years, even if Washington and Beijing make an agreement to end an expensive tariff war, Trade President Donald Trump Robert Lighthizer told lawmakers on Wednesday.

Asian shares fell on Thursday after cautious comments from Lighthizer.

The Federal Reserve will stop shrinking its $ 4 trillion balance sheet later this year, Fed Chairman Jerome Powell said in a filing suit that investors say works according to the Fed's current pause over rate increases. interest rates.

* US President Donald Trump and North Korean leader Kim Jong Un will hold another day of talks at their second summit in eight months after exchanging praises at dinner but showing no signs of progress on the nuclear issue of denuclearization.

British Prime Minister Theresa May on Monday won a two-week extension of British parliamentarians who postponed a threat of rebellion against Brexit after she agreed on a possible delay in Britain's departure from the European Union.

India and Pakistan said they fired each other's fighters on Wednesday, with Pakistan capturing an Indian pilot the day after Indian warplanes entered Pakistan for the first time since the 1971 war, taking the world powers to ask for moderation.

* At least 8 tonnes of gold were withdrawn from Venezuelan central bank coffers last week, an opposition congressman and three government sources told Reuters in the latest sign of President Nicolas Maduro's desperation to boost the currency amid sanctions .

On Wednesday, Indonesian officials stepped up efforts to find 37 people who would have been buried by the collapse of an illegal gold mine on Sulawesi island, which killed at least four people.


0100 China NBS Manufacturing PMI (FEB)

0745 France Detailed GDP (Q4)

1200 GDP of India's fiscal year (2018)

1300 Germany CPI Prelim (Feb)

1330 GDP Initial Unemployment Estimate (4Q) 1330 Initial Unemployment Claims in US (Weekly)

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


Source link