Sept 25 (Reuters) - Gold prices were trading steady on
Wednesday, a touch below a nearly three-week high hit in the
previous session, as global equities dipped after U.S. lawmakers
launched a formal impeachment inquiry into President Donald
Trump.
FUNDAMENTALS
* Spot gold XAU= was little changed at $1,532.20 per
ounce, as of 0122 GMT. In the previous session, prices of the
safe-haven bullion climbed to their highest level since Sept. 5
at $1,535.60.
* U.S. gold futures GCv1 were down 0.1% at $1,539.5 per
ounce.
* The dollar wobbled on Wednesday, while Asian stocks fell
as impeachment inquiry into Trump increased the prospects of
prolonged political uncertainty in the world's largest economy.
USD/ MKTS/GLOB
* Democrats in the U.S. House of Representatives on Tuesday
launched a formal impeachment inquiry into Trump, accusing him
of seeking foreign help to smear Democratic rival Joe Biden
ahead of next year's election. * Trump delivered a stinging rebuke to China's trade
practices on Tuesday at the United Nations General Assembly,
saying he would not accept a "bad deal" in U.S.-China trade
negotiations. * U.S. consumer confidence ebbed in September as an
escalation in trade tensions fanned concerns about business and
labor market conditions, a potentially worrying signal for
consumer spending, which has been driving the economy.
* The UK Supreme Court ruled on Tuesday that Boris Johnson's
decision to shut down parliament in the run-up to Brexit was
unlawful, but a defiant prime minister said he disagreed and
vowed that Britain would leave the EU by Oct. 31, come what may.
* Saudi Arabia believes Iran conducted the recent attacks on
its oil facilities and will consider a military response once
its investigation is complete, the kingdom's minister of state
for foreign affairs said on Tuesday. * German business morale rose in September for the first
time in six months but Europe's largest economy is still likely
slipping into recession as the U.S.-China trade conflict and
Brexit bite, the Ifo economic institute said on Tuesday.
* Bank of Japan policymakers discussed the need for the
central bank to take a preemptive response to downside risks to
the economy and prices, minutes of the central bank's July 29-30
meeting showed on Wednesday. AHEAD
0645 France Consumer Confidence Sept
1000 UK CBI Distributive Trades
1400 US New Home Sales-Units Aug