Gold prices traded just below a two-week high on Friday, pressured by a firmer dollar, but was on track to log a second consecutive week of gains.FUNDAMENTALS
* Spot gold
* It was up 0.85 percent for the week.
* U.S. gold futures
* The dollar edged up on Friday though remained on track for weekly losses. [USD/]
* Asian stocks edged up on Friday on new data pointing to steady growth in the U.S. economy, while the euro slipped after a vote in Catalonia favoured separatists wanting to break away from Spain. [MKTS/GLOB]
* Republicans in the U.S. Congress on Thursday advanced stopgap legislation to keep the federal government operating past Friday when funding expires, seeking to avert a self-inflicted disaster just before the Christmas holiday season.
* More than 120 countries defied President Donald Trump on Thursday and voted in favor of a United Nations General Assembly resolution calling for the United States to drop its recent recognition of Jerusalem as Israel`s capital.
* The U.S. economy grew at its fastest pace in more than two years in the third quarter, powered by robust business spending, and is poised for what could be a modest lift next year from sweeping tax cuts passed by Congress this week.
* The federal tax bill that Congress approved this week is expected to provide a modest lift to the U.S. economy in 2018 and 2019, as lower taxes should help consumer spending and business spending, J.P. Morgan economists said on Thursday.
* The Bank of Japan kept monetary policy steady on Thursday and its governor said economic improvements alone would not trigger a withdrawal of stimulus, reassuring markets it will lag well behind its overseas peers in ending crisis-mode easing.
* The Moscow Exchange will launch deliverable futures for gold in 2018 in a move to further prop up bullion market liquidity, bourse chief executive Alexander Afanasiev said on Thursday.
* Workers at Pan African Resource`s
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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