Jan 28 (Reuters) - Gold prices edged lower on Thursday as
investors opted for the safety of the dollar after the U.S.
Federal Reserve flagged concerns about the pace of recovery in
the world's largest economy.
FUNDAMENTALS
* Spot gold XAU= eased 0.3% to $1,839.21 per ounce by 0042
GMT. Prices fell to their lowest since Jan. 18 at $1,830.80 on
Wednesday. U.S. gold futures GCv1 shed 0.5% to $1,835.90.
* The dollar .DXY hit a more than one-week high against
rival currencies in the previous session. A stronger dollar
makes gold more expensive for holders of other currencies.
USD/
* The Fed on Wednesday left its key overnight interest rate
near zero and made no change to its monthly bond purchases,
pledging again to keep those economic pillars in place until
there is a full rebound from the pandemic-triggered
recession. * Some U.S. states are starting to ease public health
restrictions as severe COVID-19 infections are beginning to
abate in many parts of the country even as the death toll
mounts. * Holdings of the world's largest gold-backed
exchange-traded fund, SPDR Gold Trust GLD , fell 0.3% to
1,169.17 tonnes on Wednesday. * Analysts and traders have downgraded their forecasts for
gold but still expect prices to recover from current levels and
many see it achieving record highs this year. * Silver XAG= lost 0.2% to $25.18 an ounce, platinum
XPT= fell 0.2% to $1,063.76, and palladium XPD= was flat at
$2,304.81.
* Platinum will burst from a decade-long stagnation this
year as demand from investors and auto makers delivers the
biggest annual average price rise since 2010, a Reuters poll
showed. AHEAD (GMT)
1000 EU Consumer Confidence Final Jan
1100 Brazil IGP-M Inflation Index Jan
1300 Germany CPI, HICP Prelim YY Jan
1330 US GDP Advance Q4
1330 US Initial Jobless Claim weekly
1500 US New Home Sales - units Dec
2350 Japan Bank of Japan to release summary of opinions from
board members at its Jan. 20-21 policy meeting