Gold eases on firmer dollar; U.S.-N.Korea summit, Fed meeting in focus
Gold prices edged lower on Tuesday, weighed down by a stronger dollar amid encouraging signs ahead of an historic U.S.-North Korea summit and a likely interest rate hike by the U.S. Federal Reserve. FUNDAMENTALS
** Spot gold
** U.S. gold futures
** The dollar index <.dxy>, which measures the greenback against a basket of six major currencies, edged 0.3 percent higher at 93.819. [USD/]
** U.S. President Donald Trump said his summit with North Korean leader Kim Jong Un in Singapore on Tuesday would show if a "real deal" could happen, as both sides sought to narrow differences over how to end a nuclear standoff on the Korean peninsula.
** U.S. inflation expectations were flat in May after several months of gains, while Americans grew more pessimistic about income and spending growth, according to a Federal Reserve Bank of New York survey published on Monday.
** The Federal Reserve, which meets this week, will likely raise its target interest rate to above the rate of inflation for the first time in a decade, igniting a new debate: when to stop.
** Trump fired off a volley of tweets on Monday venting anger on NATO allies, the European Union and Canadian Prime Minister Justin Trudeau in the wake of a divisive G7 meeting over the weekend.
** Bank of Japan policymakers will debate this week whether structural factors may be behind recent disappointingly slow inflation, which could force them to cut the central bank`s price forecasts at a quarterly review in July.
** Canada`s Goldcorp
** Three gold miners were killed in South Africa on Monday at a Sibanye-Stillwater
** Rioters in southern Mali ransacked local government buildings on Monday following a dispute between workers and management at Randgold`s RRS.L Loulo and Gounkoto gold mines, the government said.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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