Gold prices edged higher on Thursday,
buoyed by a pullback in the dollar and US Treasury yields,
while investors awaited the US non-farm payrolls report later
this week that could offer more cues on the Federal Reserve’s
rate hike plans.
* Spot gold was up 0.2% at $1,767.97 per ounce, as of
0123 GMT. US gold futures rose 0.4% to $1,783.20.
* The dollar was down 0.1% against its rivals, making
greenback-denominated gold less expensive for other currency
holders, while benchmark US 10-year Treasury yields
slipped from a more than one-week high.
* Data showed the US services industry unexpectedly picked
up in July as new orders grew solidly, while US factory orders
also rose in June, gaining 2% after advancing 1.8% in May.
* Focus now shifts to US jobs data due on Friday that
could offer more clarity on Fed’s aggressive tightening to fight
* Fed policymakers on Tuesday and Wednesday signaled that
the central bank remains resolute in getting US rates up to a
level that will more significantly curb economic activity and
put a dent in the highest inflation since the 1980s.
* SPDR Gold Trust , the world’s largest gold-backed
exchange-traded fund, said its holdings fell 0.2% to 1,000.65
tonnes on Wednesday from 1,002.97 tonnes on Tuesday.
* US House of Representatives Speaker Nancy Pelosi left
Taiwan on Wednesday, adding that Chinese anger cannot stop world
leaders from traveling to the self-ruled island claimed by
* Analysts have sharply lowered their price forecasts for
platinum and palladium as the global economic slowdown reduces
demand, a Reuters poll showed.
* Spot silver eased 0.2% to $20 per ounce, platinum
was up 0.1% to $899.06, and palladium eased 0.1%
0130 Australia Trade Balance G&S June
0600 Germany Industrial Orders MM June
0600 Germany Manufacturing O/P Cur Price SA June
0600 Germany Consumer Goods SA June
0830 UK All-Sector PMI July
1100 UK BOE Bank Rate Aug
1230 US International Trade June
1230 US Initial Jobless Clm Weekly
(Reporting by Brijesh Patel in Bengaluru; Editing by Rashmi