Gold slips as dollar steadies on positive U.S. data

Reuters  |  BENGALURU 

BENGALURU (Reuters) - Gold prices slipped early Wednesday while the dollar held its gains on the back of upbeat March U.S. housing starts and industrial production figures.

* Spot gold fell 0.2 percent to $1,344.20 per ounce at 0107 GMT, while U.S. gold futures for June delivery dipped 0.2 percent to $1,347.50 per ounce.

* The dollar index <.DXY>, which measures the greenback against a basket of currencies, was little changed at 89.556, after gaining 0.1 percent overnight.

* The index touched a three-week low of 89.229 on Tuesday before pulling back on stronger-than-expected March U.S. housing starts and steady industrial production figures.

* Housing starts rose 1.9 percent to a seasonally adjusted annual rate of 1.319 million units, the Commerce Department said on Tuesday. Economists polled by had forecast housing starts rising to a pace of 1.262 million units last month.

* In a separate report on Tuesday, the said industrial production rose 0.5 percent in March after jumping 1.0 percent in February.

* San Francisco on Tuesday said he expects U.S. to rise to the U.S. central bank's 2-percent goal this year and stay at or above that goal for "another couple of years," even as the Fed continues to raise interest rates.

* said on Tuesday the was engaged in direct talks at "extremely high levels" with to try to set up a summit between him and its leader,

* Syria's U.N. said a security team travelled to the Syrian town of ahead of a planned visit by global on Wednesday to look into a that sparked a U.S.-led retaliatory strike.

* The warned on Tuesday that rising U.S.-trade restrictions threaten to damage a steady global growth picture, but there was still time for the world's two largest economies to step back from the brink.

* Polyus said on Tuesday that the inclusion on a U.S. sanctions list of a member of the family that controls Russia's biggest would not lead to changes in the way the company conducted its business.

(Reporting by in Bengaluru)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, April 18 2018. 06:59 IST