Jan 24 (Reuters) - Gold inched lower on Friday as investors
opted for riskier assets after the World Health Organisation
stopped short of declaring the China virus outbreak a global
emergency, but the precious metal was on track to post a weekly
gain.
FUNDAMENTALS
* Spot gold XAU= fell 0.2% to $1,560.50 per ounce by 0131
GMT. For the week, prices were on track to gain 0.3%. U.S. gold
futures GCv1 slipped 0.4% to $1,559.20.
* The WHO said on Thursday that the new coronavirus that has
emerged in China and spread to several other countries does not
yet constitute an international emergency but it was tracking
its evolution "every minute". * Asian shares were slightly higher following the WHO
statement. MKTS/GLOB
* China's Lunar New Year celebrations have begun as hundreds
of millions are expected to travel to the country for holidays,
raising fears of spreading the virus.
* Weighing on bullion, the dollar .DXY against a basket of
currencies, hovered near a one-month high hit in the previous
session after the European Central Bank kept interest rates
unchanged at its latest policy meeting. USD/ * Investors are now focused on the U.S. Federal Reserve's
first meeting of the year scheduled on Jan. 28-29.
* U.S. President Donald Trump will sign a trade pact between
the United States, Mexico and Canada on Wednesday, an
administration official told Reuters on Thursday. * Holdings of the world's largest gold-backed
exchange-traded fund, SPDR Gold Trust GLD , rose 0.2% to 900.58
tonnes on Thursday. GOL/ETF
* A significant global upturn will remain elusive this year
as many economies still face an array of daunting risks, despite
improved sentiment from an initial U.S.-China trade deal and
ebullience in financial markets, Reuters polls showed.
* Palladium XPD= dipped 1.1% to $2,432.84 an ounce, but
was on track to register its worst week in five. Silver XAG=
fell 0.2% to $17.76 and platinum XPT= edged lower by 0.2% to
$1,000.07.
DATA/EVENTS (GMT)
0815 France Markit Mfg, Serv, Comp Flash PMIs Jan
0830 Germany Markit Mfg, Serv, Comp Flash PMIs Jan
0900 EU Markit Mfg, Serv, Comp Flash PMIs Jan
0930 UK Flash Composite PMI Jan
0930 UK Flash Manufacturing PMI Jan
0930 UK Flash Services PMI Jan
1445 US Markit Mfg, Serv, Comp Flash PMIs Jan
1030 IMF Managing Director Kristalina Georgieva, British
Finance Minister Sajid Javid, Governor of the
Bank of Japan Haruhiko Kuroda, German Finance
Minister Olaf Scholz and U.S. Treasury Secretary
Steven Mnuchin speak in Davos on the global
economic outlook