Gold prices edged higher in early trade on Friday as dollar held steady, but the metal remained on track to post its biggest weekly decline since May 2017. FUNDAMENTALS
* Spot gold
* The dollar was little changed against other major currencies on Friday after nudging away from 13-1/2-month highs amid easing risk aversion and as investors awaited the next developments in the U.S.-China trade saga. [USD/]
* China and the United States will hold lower-level trade talks this month, the two governments said on Thursday, offering hope that they might resolve an escalating tariff war that threatens to engulf all trade between the world`s two largest economies.
* The United States warned Turkey on Thursday to expect more economic sanctions unless it hands over detained American pastor Andrew Brunson, as relations between the two countries took a further turn for the worse.
* Finance Minister Berat Albayrak assured international investors on Thursday that Turkey would emerge stronger from its currency crisis, insisting its banks were healthy and signalling it could ride out a dispute with the United States.
* U.S. President Donald Trump praised the strength of the U.S. dollar on Thursday after the greenback reached a 14-month high against a broad basket of other currencies a day earlier.
* Federal Reserve Chairman Jerome Powell is scheduled to speak next Friday, Aug. 24, at the annual global central bank conference in Jackson Hole, Wyoming, the Fed said on Thursday.
* U.S. homebuilding rebounded less than expected from a nine-month low in July, suggesting the housing market was likely to tread water for the rest of this year against the backdrop of rising construction costs and labour shortages.
* Business confidence among Japanese manufacturers was at its highest in seven months in August thanks to a firm global economy, a Reuters poll showed on Friday, but the service sector`s mood hit its lowest since 2016, casting doubt on the robustness of domestic demand.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
06:45 AM IST