Jan 21 (Reuters) - Gold prices rose to a near two-week high
on Tuesday as investors sought refuge in the safe-haven metal,
amid concerns of a virus outbreak in China and tensions in the
Middle East, while traders awaited a Bank of Japan policy
decision.
FUNDAMENTALS
* Spot gold XAU= rose 0.3% to $1,565.36 per ounce by 0147
GMT, prices touched their highest since Jan. 8 at $1,567.19
earlier in the session.
* U.S. gold futures GCv1 were up 0.4% at $1,566.00.
* An outbreak of a new coronavirus has spread to more
Chinese cities, including the capital Beijing and Shanghai,
authorities said on Monday, and a fourth case has been reported
beyond China's borders. * Three Katyusha rockets fell on Tuesday inside Baghdad's
Green Zone which houses government buildings and foreign
missions, two of which landed near the U.S. embassy.
* The Bank of Japan is set to keep monetary policy steady
and signal its cautious optimism over the global outlook on
Tuesday, reinforcing market expectations that the rising cost of
prolonged easing will keep the hurdle for further stimulus high.
* Global growth appears to have bottomed out but there is no
rebound in sight and risks ranging from trade tensions to
climate shocks makes the outlook uncertain, a top International
Monetary Fund official said on Monday. * Asian shares got off to a cautious start after the IMF
shaved its outlook for world growth this year. MKTS/GLOB
* Investors also remained focused on the developments in the
World Economic Forum in Davos this week. * Russia's gold reserves stood at 73.0 million troy ounces
as of the start of January, the central bank said on Monday.
* Palladium XPD= jumped 0.8% to $2,519.37 an ounce. The
auto-catalyst metal hit a record high of $2,582.19 in the
previous session.
* Silver XAG= edged higher by 0.1% to $18.08 per ounce,
while platinum XPT= rose 0.3% to $1,018.04.
DATA/EVENTS (GMT)
0930 UK Claimant Count Unem Chng Dec
0930 UK ILO Unemployment Rate Nov
1000 Germany ZEW Economic Sentiment Jan
1000 Germany ZEW Current Conditions Jan
n/a Japan JP BOJ Rate Decision Jan 21