April 8 (Reuters) – Gold
FUNDAMENTALS
* Spot gold inched down 0.03% to $1,736.76 per ounce
at 0149 GMT. U.S. Gold fell 0.3% to $1,736.50 per
ounce.
* Officials at the Federal Reserve are concerned about the
ongoing risks of the COVID-19 pandemic and are committed to
supporting the economy until its recovery is more stable,
according to minutes of the central bank’s most recent policy
meeting released on Wednesday.
* Asian equities were on track to mirror Wall Street’s
cautious gains, weighing on the metal’s safe-haven allure.
[MKTS/GLOB]
* The U.S. trade deficit surged to a record high in February
helped by massive fiscal stimulus that is expected to put the
country’s economy on-track for the fastest growth in nearly four
decades.
* U.S. President Joe Biden made a fiery appeal for U.S
companies to foot most of the bill for his $2 trillion-plus
infrastructure plan, but signalled an openness to negotiate over
exactly how much they would have to pay.
* Limiting gold’s losses, the U.S. dollar traded near more
than two-week troughs versus major peers on Thursday, tracking
Treasury yields lower. [USD/] [US/]
* SPDR Gold
* The National Bank of Hungary (NBH) said it had tripled the
country’s gold reserves to 94.5 tonnes, its highest level in
decades.
* Silver fell 0.3% to $25.03 and palladium was
down 0.2% to $2,617.71. Platinum rose 0.1% to $1,226.16.
DATA/EVENTS (GMT)
0600 Germany Industrial Orders MM Feb
0645 France Reserve Assets Total March
1230 US
Initial Jobless Clm Weekly
(Reporting by Diptendu Lahiri in Bengaluru; editing by
Uttaresh.V)
((Diptendu.Lahiri@thomsonreuters.com; within U.S. +1 651 848
5832; outside U.S. +91 80 6749 3683;; Reuters Messaging:
diptendu.lahiri.thomsonreuters.com@reuters.net))
Keywords: GLO(BA)L PRECIOUS/
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