April 23 (Reuters) - Gold gained on Friday and was poised
for a third straight weekly rise as a softer U.S. dollar,
falling Treasury yields and a dip in equities after U.S.
President Joe Biden's proposal to hike capital gains tax
encouraged investors to flock towards bullion.
FUNDAMENTALS
* Spot gold XAU= was up 0.2% at $1,787.11 per ounce by
0135 GMT, after hitting its highest since Feb. 25 at $1,797.67
on Thursday. The metal has gained about 0.6% so far this week.
* U.S. gold futures GCv1 rose 0.4% to $1,788.10 per ounce.
* The dollar index .DXY fell 0.1% against its rivals,
making gold cheaper for other currency holders. USD/
* U.S. 10-year Treasury yield US10YT=RR ticked lower on
news that Biden will propose a tax hike for high earners, to
fund about $1 trillion in childcare, universal pre-kindergarten
education and paid leave for workers. US/ * The number of Americans filing new claims for unemployment
benefits fell to a 13-month low last week. * Switzerland in March recorded its biggest monthly gold
exports in 10 months as shipments to India leaped to their
highest since 2013, Swiss customs data showed. * Uzbekistan's central bank will resume gold sales when it
feels the price of the metal is peaking, deputy governor Behzod
Khamraev told Reuters. * Global silver demand will rise this year to its highest
since 2015, the Silver Institute said in a report on Thursday.
* Palladium XPD= rose 0.1% to $2,840 per ounce but was off
a record $2,891.50 hit on Thursday. Many analysts expect a
further run towards $3,000 per ounce as automakers ramp up
purchases of the metal, worsening a supply shortage. * Silver XAG= eased 0.3% to $26.10 per ounce. Platinum
XPT= was little changed at $1,203.10.
DATA/EVENTS (GMT)
0600 UK Retail Sales MM, YY March
0600 UK Retail Sales Ex-Fuel MM March
0715 France Markit Mfg, Serv, Comp Flash PMIs April
0730 Germany Markit Mfg, Serv, Comp Flash PMIs April
0800 EU Markit Mfg, Serv, Comp Flash PMIs April
0830 UK Mfg, Serv, Comp Flash PMIs April
1345 US Markit Mfg, Serv, Comp Flash PMIs April
1400 US New Home Sales-Units March