Jan 22 (Reuters) - Gold prices fell on Wednesday, as the
dollar firmed and investors assessed the risk of a global
epidemic from a coronavirus outbreak from China that could have
an impact on economic growth.
FUNDAMENTALS
* Spot gold XAU= fell 0.3% to $1,553.27 per ounce by 0133
GMT. On Tuesday, prices rose to a near two-week peak before
declining as much as 1%.
* U.S. gold futures GCv1 were down 0.3% at $1,553.30.
* The toll from the Wuhan coronavirus in China rose to six
deaths on Tuesday and the first case was reported in the United
States, sending markets tumbling on fears of economic damage as
tourists canceled travel plans and airports stepped up screening
* Investors worried about the threat of contagion as
hundreds of millions travel for the Chinese Lunar New Year
holidays, which peak over the coming weekend.
* Weighing on gold, the dollar .DXY firmed against a
basket of currencies, making gold more expensive for holders of
other currencies. USD/
* Asian stocks steadied although investors remained on edge
over the possible consequences of a global pandemic. MKTS/GLOB
* U.S. Treasury Secretary Steve Mnuchin said on Tuesday
fresh trade deals with China, Mexico and Canada this month could
boost the U.S. economy and that growth would outperform
projections, including those by the International Monetary Fund.
* China's gold consumption fell for the first time in three
years in 2019, as high prices and an economic slowdown hit
buying in the world's biggest market for the metal. * Ivory Coast produced a record 32.478 tonnes of gold in
2019, up 35% from 24.06 tonnes in 2018, data from the mine and
geology ministry seen by Reuters showed on Tuesday. * South African miner Gold Fields Ltd has hired investment
bank RBC Capital Markets to explore the sale of a 30% stake in
its gold project in northern Chile, two sources said.
* In other precious metals, palladium XPD= dipped 0.7% to
$2,386.00 an ounce, silver XAG= fell 0.4% to $17.70 per ounce
and platinum XPT= slipped 0.7% to $992.15.
DATA/EVENTS (GMT)
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