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PRECIOUS-Gold steady below 2-week peak, trade talks optimism weighs

Published 09/24/2019, 10:18 AM
Updated 09/24/2019, 10:20 AM
PRECIOUS-Gold steady below 2-week peak, trade talks optimism weighs
XAU/USD
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GC
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GLD
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DXY
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Sept 24 (Reuters) - Gold prices were steady in early Asian
trade on Tuesday, after rising to a more than two-week peak in
the previous session on global slowdown fears and tensions in
the Middle East, while an improved Sino-U.S. trade tone weighed
on the yellow metal.

FUNDAMENTALS
* Spot gold XAU= was little changed at $1,521.01 per
ounce, as of 0155 GMT. Prices had climbed to their highest level
since Sept. 6 at $1,526.80 in the previous session.
* U.S. gold futures GCv1 were down 0.3% at $1,527.1 per
ounce.
* Against a basket of currencies, the dollar .DXY was up
0.1%, while U.S. stock futures gained in early Asian trade.
USD/ MKTS/GLOB
* U.S. Treasury Secretary Steven Mnuchin said on Monday that
he and U.S. Trade Representative Robert Lighthizer would meet
with Chinese Vice Premier Liu He for trade talks in two weeks.
* U.S. President Donald Trump on Monday questioned a
decision by his top trade negotiators to ask Chinese officials
to delay a planned trip to U.S. farming regions after trade
talks last week, saying he wanted China to buy more American
farm products. * The Federal Reserve has delivered a boost to the economy
this year not only with interest-rate cuts but also because it
shifted away from its earlier view that it would need to raise
rates in 2019, two Fed policymakers said on Monday. * Britain, Germany and France backed the United States and
blamed Iran on Monday for an attack on Saudi oil facilities,
urging Tehran to agree to new talks with world powers on its
nuclear and missile programs and regional security issues.
* Britain's top court will rule on Tuesday whether Prime
Minister Boris Johnson's decision to suspend parliament was
unlawful, a judgment that could lead to the recall of the
legislature and give lawmakers more chance to obstruct his
Brexit plans. * Euro zone business growth stalled this month, a survey
showed on Monday, dragged down by shrinking activity in
powerhouse Germany, where a manufacturing recession deepened
unexpectedly. * Japanese manufacturing activity shrank at the fastest pace
in seven months in September, underscoring the broadening
economic impact of the Sino-U.S. trade dispute and keeping
policymakers under pressure to step up stimulus. * SPDR Gold Trust GLD , the world's largest gold-backed
exchange-traded fund, said its holdings rose 1.61% to 908.52
tonnes on Monday. AHEAD
0645 France Business Climate Mfg Sept
0800 Germany Ifo Business Climate New Sept
0800 Germany Ifo Curr Conditions New Sept
0800 Germany Ifo Expectations New Sept
1000 UK CBI Trends - Orders Sept
1300 US CaseShiller 20 MM SA, YY July

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