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PRECIOUS-Gold holds firm as investors focus on Trump's health

Published 10/05/2020, 09:08 AM
Updated 10/05/2020, 09:10 AM
© Reuters.
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Oct 5 (Reuters) - Gold prices were steady around the $1,900
level on Monday, amid political uncertainty stoked by U.S.
President Donald Trump's health after he tested positive for
COVID-19 last week.

FUNDAMENTALS
* Spot gold XAU= was up 0.1% to $1,900.28 per ounce by
0048 GMT.
* U.S. gold futures GCv1 were down 0.1% at $1,906.30.
* Doctors treating Trump for COVID-19 sent conflicting
signals about the severity of his condition on Sunday, hours
before the president surprised supporters gathered outside the
hospital with an impromptu motorcade. * U.S. employment growth slowed more than expected in
September and over 300,000 Americans lost their jobs
permanently, underscoring the need for additional fiscal
stimulus to aid the economy's recovery. * British Prime Minister Boris Johnson said on Sunday that
he does not particularly wish for the Brexit transition period
to end without a new trade deal in place but believes that
Britain could live with such an outcome. * The dollar index .DXY was down 0.1% against rivals,
while U.S. stock futures rose on hopes that Trump could be
discharged from hospital later in the day. USD/ MKTS/GLOB
* Speculators reduced their bullish positions in COMEX gold
and increased them in silver contracts in the week to Sept. 29,
the U.S. Commodity Futures Trading Commission (CFTC) said on
Friday. * Holdings in SPDR Gold Trust GLD , the world's largest
gold-backed exchange-traded fund, fell 0.05% to 1,275.60 tonnes
on Friday. * Silver XAG= rose 0.8% to $23.89 per ounce, platinum
XPT= eased 0.1% to $881.51 and palladium XPD= was little
changed at $2,307.64.

DATA/EVENTS (GMT)
0600 UK Reserve Assets Total
0750 France Markit Serv, Comp PMIs
0755 Germany Markit Services PMI
0755 Germany Markit Comp Final PMI
0800 EU Markit Serv, Comp Final PMIs
1345 US Markit Serv, Comp Final PMIs
1400 US ISM N-Mfg PMI

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