Feb 21 (Reuters) - Gold prices held steady at a near
seven-year high on Friday as nervous investors opted for safe
haven assets amid fears about the economic damage from China's
coronavirus epidemic that eclipsed Beijing's stimulus efforts.
FUNDAMENTALS
* Spot gold XAU= was little changed at $1,619.33 per ounce
by 0108 GMT. In the previous session, bullion prices had hit a
seven-year high at $1,623.45.
* U.S. gold futures GCv1 were up 0.1% to $1,622.60.
* Daegu, a city of 2.5 million people in South Korea, has
become the latest victim of the virus outside China. The country
now has 104 confirmed cases of the flu-like virus and reported
its first death. * The epidemic, which has disrupted China's economic growth
and further spread to other countries, could derail a "highly
fragile" projected recovery in the global economy in 2020, the
International Monetary Fund warned on Wednesday.
* Asian shares fell on Friday as worries about the
coronavirus' spread in Korea, Japan and Beijing drove investors
to safe-havens such as the dollar, lifting it to three-year
highs. MKTS/GLOB USD/
* Beijing cut the benchmark lending rate on Thursday and is
likely to roll out more measures to support an economy jolted by
the virus. * The U.S. government expects China to honor its commitments
to buy more U.S. goods under a trade deal signed by the world's
two largest economies in January, a senior U.S. official said on
Thursday. * Economic data on Thursday showed factory activity in the
U.S. mid-Atlantic region expanded more than expected in
February, while the number of Americans filing for unemployment
benefits rose modestly last week. * Russia's gold reserves stood at 73.2 million troy ounces
as of the start of February. * Switzerland exported 87.7 tonnes of gold in January as a
rebound in shipments to Hong Kong offset lower exports to
mainland China and India. * Holdings of the world's largest gold-backed
exchange-traded fund, SPDR Gold Trust GLD , rose 0.25% to
933.94 tonnes on Thursday. GOL/ETF
* Palladium XPD= advanced 0.5% to $2,704.46 an ounce,
having touched a record high of $2,841.54 on Wednesday.
* Silver XAG= was flat at $18.36, while platinum XPT=
rose 0.2% to $980.17.
DATA/EVENTS (GMT)
0815 France Markit Mfg, Serv, Comp Flash PMIs Feb
0830 Germany Markit Mfg, Serv, Comp Flash PMIs Feb
0900 EU Markit Mfg, Serv, Comp Flash PMIs Feb
0930 UK Flash Mfg, Serv, Comp PMIs Feb
1000 EU HICP Final MM, YY Jan
1445 US Markit Mfg, Serv, Comp Flash PMIs Feb
1500 US Existing Home Sales Jan