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PRECIOUS-Gold rises on uncertainty over Sino-U.S. trade deal

Published 11/21/2019, 09:29 AM
Updated 11/21/2019, 09:32 AM
PRECIOUS-Gold rises on uncertainty over Sino-U.S. trade deal
XAU/USD
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XAG/USD
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ANGJ
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XPD/USD
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Nov 21 (Reuters) - Gold prices rose on Thursday as a fresh
spar between the United States and China over U.S. bills on Hong
Kong ignited worries that trade talks could hit a snag and delay
an interim deal.

FUNDAMENTALS
* Spot gold XAU= rose 0.2% to $1,474.24 per ounce by 0033
GMT, while U.S. gold futures GCv1 were flat at $1,474.10 per
ounce.
* The U.S. House of Representatives on Wednesday passed two
bills to back protesters in Hong Kong and send a warning to
China about human rights, with President Donald Trump expected
to sign them into law, despite delicate trade talks with
Beijing. * On Tuesday, the U.S. Senate passed a bill requiring annual
certification of Hong Kong's autonomy and warning Beijing
against violently suppressing protesters. China demanded
Washington stop interfering in its internal affairs and said it
would retaliate. * A "phase one" trade deal could slide into next year, trade
experts and people close to the White House said. * Global shares slid as the row between Washington and
Beijing over Hong Kong protests sparked worries that the trade
negotiations could get rattled and delay a deal. MKTS/GLOB
* A divided U.S. Federal Reserve that decided to hit pause
in its easing cycle following a rate cut in October signalled in
minutes of last month's meeting that it was in no hurry to
reassess the path of interest rates. * China lowered its lending benchmark rate, as widely
expected, to reduce company funding costs and shore up an
economy hurt by slowing demand and U.S. trade tariffs.
* In the euro zone, a range of economic data for the second
half of the year points to continuing moderate growth, one of
the newest members of the European Central Bank's governing
council said. * South African mining firm AngloGold Ashanti ANGJ.J
reached an agreement with Guinea's government to resume
operations at its Siguiri gold mine, which were suspended last
week, the Guinean mines minister said. * Silver demand will creep up by 1% this year, reducing
global oversupply to the lowest since 2015, as slowing global
economic growth amid the tariff war has weakened demand for the
industrial metal, consultancy Metals Focus said. * Elsewhere, silver XAG= rose 0.1% to $17.16 per ounce,
palladium XPD= edged up 0.1% to $1,768.87 per ounce and
platinum XPT= advanced 0.1% to $917.97 per ounce.

DATA/EVENTS (GMT)
0745 France Business Climate Mfg Nov
1330 US Initial Jobless Claims Weekly
1330 US Philly Fed Business Indx Nov
1500 US Existing Home Sales Oct
1500 EU Consumer Confid. Flash Nov

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