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PRECIOUS-Gold inches higher as dollar extends fall; focus on Fed minutes

Published 08/19/2020, 08:57 AM
Updated 08/19/2020, 09:00 AM
© Reuters.
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Aug 19 (Reuters) - Gold prices edged higher on Wednesday,
holding above the key $2,000 per ounce pivot, supported by a
sagging dollar, while investors awaited minutes from the U.S.
Federal Reserve's last policy meeting later in the day.

FUNDAMENTALS
* Spot gold XAU= was up 0.1% at $2,002.12 per ounce by
0029 GMT, after hitting a one-week high of $2,014.97 on Tuesday.
* U.S. gold futures GCv1 eased 0.1% to $2,011.60 per
ounce.
* The dollar index .DXY fell for a sixth straight session,
down 0.1%, to hold near a more than two-year low hit in the last
session, making gold less expensive for holders of other
currencies. USD/
* U.S. Treasury yields edged lower as the market largely
snubbed strong housing data and looked for signs that a
political impasse over a new round of aid to bolster the
coronavirus-hit economy was easing. US/
* Asian equities were mostly firmer on Wednesday after a
strong Wall Street session in which the S&P 500 hit an all-time
high, rebounding from huge losses caused by the coronavirus
pandemic. MKTS/GLOB
* More than 22.03 million people have been reported to be
infected by the novel coronavirus globally and 774,989​ have
died, according to a Reuters tally. * Japan's exports fell 19.2% in July from a year earlier,
posting a fifth straight month of double-digit declines,
Ministry of Finance data showed. * Markets are looking to the release at 1800 GMT of the
minutes of the Fed's latest meeting that might give more clues
on the interest rate outlook.
* Silver XAG= rose 0.6% to $27.82 per ounce. Platinum
XPT= gained 0.2% to $958.33, and palladium XPD= edged 0.1%
to $2,190.98.

DATA/EVENTS (GMT)
0600 UK CPI YY July
0900 EU HICP Final MM, YY July
1800 US Federal Open Market Committee will release minutes
from its July 28-29 policy meeting

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