Feb 4 (Reuters) - Gold and silver prices edged lower on
Thursday, weighed down by a stronger dollar, while investors
awaited the passage of a massive stimulus package in the United
States.
FUNDAMENTALS
* Spot gold XAU= eased 0.1% to $1,832.84 per ounce by 0044
GMT. U.S. gold futures GCv1 were steady at $1,834.70.
* Spot silver XAG= shed 0.5% to $26.72. Prices have eased
since hitting a near eight-year peak of $30.03 on Monday as the
social media-driven rally fizzled out. * The dollar .DXY hit its highest in over two months on
Wednesday, making precious metals expensive for holders of other
currencies.
* Benchmark 10-year Treasury yield US10YT=RR rose to its
highest in over three weeks. US/
* The U.S. House of Representatives pushed ahead on
Wednesday with a manoeuvre to pass a $1.9 trillion coronavirus
aid plan without Republican support, although President Joe
Biden said he would consider tighter limits on who would qualify
for $1,400 checks. * While easy monetary policy can support the U.S. economy in
the long term, more fiscal help may be needed in the short term
to carry the economy through the pandemic, Cleveland Federal
Reserve Bank President Loretta Mester said on Wednesday.
* U.S. private payrolls rebounded more than expected in
January, suggesting the labour market recovery was back on track
after the economy shed jobs in December. * The Bank of England on Thursday is likely to set its
sights on the prospects of economic recovery later this year,
and any backing it gives to the idea of negative interest rates
as a new stimulus weapon will probably be cautious. * Platinum XPT= fell 0.4% at $1,096.08 an ounce and
palladium XPD= lost 0.2% to $2,270.06.
DATA/EVENTS AHEAD (GMT)
1200 UK BOE Bank Rate Feb
1200 UK GB BOE QE Corp Feb
1330 US Initial Jobless Claim Weekly
1500 US Factory Orders MM Dec