Gold prices steady as economic worries support, gains in equities drag
Gold prices were steady near six-month highs on Friday, supported by worries over economic growth but pressured by gains in global equity markets.FUNDAMENTALS
* Spot gold
* U.S. gold futures
* The dollar index <.dxy>, a gauge of its value versus six major peers, was marginally weaker at 96.57, after losing 0.5 percent overnight. [USD/]
* U.S. stocks roared back to end in positive territory on Thursday following steep losses for much of the session, as equities rebounded for a second day. [MKTS/GLOB]
* A measure of U.S. consumer confidence posted its sharpest decline in more than three years in December, rattling investors already nervous about the prospect that a global economic slowdown was spilling over into the United States.
* U.S. President Donald Trump is considering an executive order in the new year to declare a national emergency that would bar U.S. companies from using telecommunications equipment made by China`s Huawei and ZTE, three sources familiar with the situation told Reuters.
* China and the United States have made plans for face-to-face consultations over trade in January, the Chinese commerce ministry said on Thursday, as the world`s two biggest economies advanced efforts to resolve a months-long trade war.
* Earnings at China`s industrial firms in November dropped for the first time in nearly three years, as slackening external and domestic demand left businesses facing more strain in 2019 in a sign of rising risks to the world`s second-largest economy.
* China`s net gold imports via main conduit Hong Kong rose 28 percent in November from the previous month to their highest since July, data showed on Thursday.
* SPDR Gold Trust
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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