Gold edges up as dollar drifts away from multi-month high
Gold prices inched up on Wednesday as the U.S. dollar retreated from a 16-month high touched earlier in week, easing amid a surge in the euro and sterling on a draft Brexit agreement.FUNDAMENTALS
* Spot gold
* U.S. gold futures
* The dollar index <.dxy>, which measures the greenback against a basket of six major currencies, was down about 0.3 percent. USD/
* U.S. President Donald Trump`s top economic adviser said on Tuesday that the United States welcomed the resumption of talks with China on trade, while Vice President Mike Pence warned Beijing to change its behaviour so as to avoid a new cold war with the United States.
* U.S. inflation expectations were unchanged in October from a month ago, even while Americans expected to spend and earn more, according to a Federal Reserve Bank of New York survey published on Tuesday.
* Britain struck a draft divorce deal with the European Union after more than a year of talks, thrusting Prime Minister Theresa May into a perilous battle over Brexit that could shape her country`s prosperity for generations to come.
* The British cabinet will meet at 1400 GMT on Wednesday to consider the draft withdrawal agreement, a Downing Street spokesman said after Irish and British media were leaked details of the agreement on the text.
* The Italian government will maintain its deficit and economic growth forecasts for 2019 despite European Commission demands for the budget plan to be revised, Deputy Prime Minister Matteo Salvini said late on Tuesday.
* SPDR Gold Trust
* Gold broker and storage company GoldCore said on Tuesday it had opened a gold vault in Dublin, aiming to attract investors looking for an alternative to London after Brexit.DATA AHEAD (GMT)
0200 China Industrial output Oct
0200 China Retail sales Oct
0200 China Urban investment Oct
0700 Germany GDP flash Q3
0745 France Consumer prices Oct
0930 UK Consumer prices Oct
1000 Euro zone GDP flash Q3
1000 Euro zone Employment flash Q3
1000 Euro zone Industrial production Sep
1330 U.S. Consumer prices Oct
2300 Federal Reserve Chairman Jerome Powell participates in
Federal Reserve Bank of Dallas Global Perspective
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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