Feb 7 (Reuters) - Gold prices edged higher on Friday as
fears over a rapidly spreading coronavirus outbreak and its
economic impact fuelled safe-haven buying.
However, China's move to cut tariffs on some U.S. imports
that sent global stock markets higher in the previous session
weighed on bullion prices.
FUNDAMENTALS
* Spot gold XAU= was up 0.1% to $1,568.76 per ounce by
0052 GMT. The metal has fallen 1.3% so far this week, heading
for its worst week since Nov. 8. U.S. gold futures GCv1 were
flat at $1,570.70.
* The death toll from the coronavirus outbreak in mainland
China reached 636 by the end of Thursday, up 73 from the
previous day, the National Health Commission said. * Asian shares eased as investors remained jittery about the
widespread virus outbreak. MKTS/GLOB
* Beijing said it would lower extra levies imposed last year
on 1,717 U.S. products, weeks after the signing of a Phase 1
trade deal that brought a truce to a bruising tariff dispute
between the world's two largest economies. * The dollar .DXY was on track for its best weekly gain
since early November, amid upbeat economic indicators ahead of
the U.S. non-farm payrolls data. USD/
* U.S. weekly jobless claims hit a nine-month low as the
number of Americans filing for unemployment benefits dropped to
202,000 last week, while productivity rebounded in the fourth
quarter. * U.S. Federal Reserve Vice Chair Randal Quarles said
policymakers should consider changes that would make it easier
for banks to treat Treasury holdings as similar to reserves held
with the central bank when meeting liquidity requirements.
* Two illegal Zimbabwean miners died and another was injured
after the gold mine they were working in collapsed, the disaster
management agency said on Thursday. * Palladium XPD= advanced 0.4% to $2,355.36 an ounce,
silver XAG= rose 0.1% to $17.83, and platinum XPT= edged
higher by 0.1% to $962.87.
DATA/EVENTS AHEAD (GMT)
0700 Germany Industrial Output MM Dec
0745 France Reserve Assets Total Jan
0830 UK Halifax House Prices MM Jan
1030 Russia Central bank key rate Feb
1200 Brazil IPCA Inflation Index MM Jan
1330 US Non-farm Payrolls Jan
1330 US Unemployment Rate Jan
1330 US Average Earnings YY Jan
2000 US Consumer Credit Dec
-- China Exports, Imports YY Jan
-- China Trade Balance USD Jan