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PRECIOUS-Gold firms near 6-yr peak on risk-off sentiment

Published 08/13/2019, 09:41 AM
Updated 08/13/2019, 09:50 AM
PRECIOUS-Gold firms near 6-yr peak on risk-off sentiment
XAU/USD
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US500
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JP225
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GC
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GLD
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US10YT=X
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MIAPJ0000PUS
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DXY
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Aug 13 (Reuters) - Gold prices gained on Tuesday, hovering
near a more than six-year high hit the previous day, as concerns
around protests in Hong Kong, a slump in Argentina's markets and
the ongoing Sino-U.S. trade war dented risk appetite.

FUNDAMENTALS
* Spot gold XAU= rose 0.3% to $1,515.21 per ounce as of
0116 GMT.
* U.S. gold futures GCcv1 rose 0.5% to $1,525.10 an ounce.
* MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS was down 0.26% while Japan's Nikkei .N225
tumbled 1.28%. MKTS/GLOB
* On Monday, Wall Street stocks also fell sharply, with the
S&P 500 .SPX losing 1.23%.
* Protesters managed to shut down Hong Kong's airport, the
world's busiest cargo airport, on Monday. * Fears of a possible return to interventionist policies,
gripped the Argentine market after market-friendly President
Mauricio Macri lost by a much wider-than-expected margin in
presidential primaries. * Investors are focused on the Federal Reserve's annual
symposium next week. Traders see a 74% chance of a 25
basis-point rate cut by the Fed this September. FEDWATCH
* In Monday afternoon trading, U.S. benchmark 10-year
Treasury note yields US10YT=RR fell to 1.64% from 1.734% late
on Friday. USD/
* The dollar index .DXY , which tracks the greenback
against a basket of six major rivals, was up 0.1%.
* SPDR Gold Trust GLD , the world's largest gold-backed
exchange-traded fund, said its holdings rose 0.94% to 847.77
tonnes on Monday from 839.85 tonnes on Friday. GOL/ETF

DATA AHEAD (GMT)

* 0600 Germany HICP Final YY July
* 0830 UK Claimant Count Unem Change July
* 0830 UK ILO Unemployment Rate June
* 1230 US CPI MM, SA July


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