Dec 23 (Reuters) - Gold prices edged higher on Wednesday as
grim U.S. consumer and housing data bolstered hopes for further
stimulus to support an economic recovery from the
pandemic-induced slump.
FUNDAMENTALS
* Spot gold XAU= rose 0.2% to $1,863.83 per ounce by 0027
GMT, while U.S. gold futures GCv1 fell 0.1% to $1,868.10.
* A new coronavirus strain in the UK has caused several
countries around the world to shut their borders to Britain and
drugmakers to scramble to test their COVID-19 vaccines against
it. * Weekly COVID-19 infections rose by the highest since the
pandemic began, with the United States reporting the most number
of cases for any single country, the World Health Organization
said on Tuesday.
* U.S. Congress passed a massive COVID-19 aid and government
funding package overnight aimed at bolstering the nation's
battered economy. * Data on Tuesday showed U.S. consumer confidence dropped to
a four-month low in December, while U.S. existing home sales
also fell in November. * The U.S. economy grew at a record pace in the third
quarter, the Commerce Department said, revising up its estimate
for gross domestic product.
* U.S. President-elect Joe Biden said his administration
would put forward another COVID-19 relief package next year,
including a new round of stimulus payments. * The European Union is ready to continue negotiations with
Britain past the end of the year, sources said after an update
on Brexit by the bloc's negotiator, Michel Barnier. * SPDR Gold Trust GLD the world's largest gold-backed
exchange-traded fund, said its holdings fell 0.20% to 1,167.53
tonnes on Tuesday from 1,169.86 tonnes on Monday. * Silver XAG= rose 1% to $25.38 an ounce. Platinum XPT=
rose 0.5% to $1,007.11 and palladium XPD= gained 0.2% to
$2,318.12.
DATA AHEAD(GMT)
1330 US Nov. Consumption, Adjusted
1330 US Nov. Durable Goods