April 1 (Reuters) - Gold prices on Wednesday clawed back
from a steep fall in the previous session, as the U.S. dollar
eased following the Federal Reserve's latest stimulus boost and
as Asian equities slipped with the coronavirus pandemic sharply
slowing global growth.
FUNDAMENTALS
* Spot gold XAU= was up 0.4% at $1,577.83 per ounce, as of
0030 GMT, having slumped 3.1% in the previous session. U.S. gold
futures GCv1 slipped 0.3% to $1,591.30.
* The Fed on Tuesday broadened the ability of dozens of
foreign central banks to access U.S. dollars during the
coronavirus crisis by allowing them to exchange their holdings
of U.S. Treasury securities for overnight dollar loans.
* The dollar .DXY was down 0.1% against key rivals. USD/
* Asian shares faced another leg lower on Wednesday as the
virus sharply slows global growth, leading a gauge of world
stocks to post its biggest quarterly decline in more than a
decade. MKTS/GLOB
* Denting sentiment further was data that showed that U.S.
consumer confidence dropped to a near three-year low in March as
households worried about the economy's near-term outlook amid
the epidemic, which has upended life for Americans. * The Federal Reserve is ready to do more to help a U.S.
economy ground to a sudden halt as businesses shutter and people
stay home to slow the virus, San Francisco Fed President Mary
Daly said on Tuesday. * China will make further targeted cuts in the reserve
requirement ratio for medium- and small-sized banks to help
cushion the impact of the outbreak, state media reported on
Tuesday. * Japanese manufacturers turned pessimistic for the first
time in seven years in the three months ended March, the central
bank's "tankan" survey showed, as the pandemic dealt a heavy
blow to business activity. * Some countries' banking systems might have to be
recapitalized or even restructured, if their economies are
severely handicapped by prolonged disruption from the outbreak,
officials at the International Monetary Fund said on Tuesday.
* Holdings in SPDR Gold Trust GLD , the world's largest
gold-backed exchange-traded fund, rose 0.27% to 967 tonnes on
Tuesday. GOL/ETF
* Palladium XPD= eased 0.3% to $2,344.99 per ounce,
platinum XPT= fell 0.7% to $717.39 and silver XAG= slipped
0.3% to $13.93.
DATA/EVENTS (GMT)
0145 China Caixin Mfg PMI Final March
0755 Germany Markit/BME Mfg PMI March
0800 EU Markit Mfg Final PMI March
0830 UK Markit/CIPS Mfg PMI Final March
0900 EU Unemployment Rate Feb
1345 U.S. Markit Mfg PMI Final March
1400 U.S. ISM Manufacturing PMI March