Gold hovers below three-week high amid firm dollar
Gold prices slipped on Wednesday, after hitting a more than three-week high in the previous session, amid a firmer dollar.FUNDAMENTALS
* Spot gold
* U.S. gold futures
* The dollar index <.dxy>, which tracks the greenback against a basket of six major rivals, was steady at 93.283. The dollar was up 0.1 percent against the yen at 113.32
* Oil prices were supported around a 2-1/2-year top on Wednesday after an explosion of a Libyan crude pipeline sparked supply fears, while gold and copper hovered near multi-week highs, boosting commodity- and energy-linked shares around Asia. [MKTS/GLOB]
* The United States announced sanctions on two North Korean officials behind their country`s ballistic missile programme on Tuesday, while Russia reiterated an offer to mediate to ease tensions between Washington and Pyongyang.
* Russia is ready to act as a mediator between North Korea and the United States if both parties are willing for it to play such a role, the Kremlin said on Tuesday.
* Chinese industrial firms continued to ramp up production in the fourth quarter, a private survey on Wednesday showed, but growth in wages and hiring slowed in a further sign of cooling momentum in the world`s second-biggest economy.
* Japan`s households spent more than expected in November while consumer inflation ticked up and the jobless rate hit a fresh 24-year low, offering the central bank some hope an economic recovery will drive up inflation to its 2 percent target.DATA/EVENT AHEAD (GMT)1500 U.S. Pending home sales Nov
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.