Gold prices edged up on Thursday from
nine-month lows touched in the previous session, after the
dollar paused its rally, alleviating pressure on
* Spot gold firmed 0.2% to $1,741.87 per ounce by
0100 GMT. US gold futures rose 0.2% to $1,739.80.
* The dollar was flat near fresh 20-year highs reached on
Wednesday, easing some pressure on gold.
* Strength in the dollar dragged gold as much as 1.9% lower
in the previous session to its lowest level since Sept. 30 at
* Wall Street ticked upward while oil continued to slide on
Wednesday as investors juggled concerns over inflation versus a
recession after Federal Reserve minutes showed officials rallied
around a large rate hike at their June meeting.
* A worsening inflation situation and concern about lost
faith in the Federal Reserve’s power to make it better prompted
US central bank officials to rally around an outsized interest
rate increase and a firm restatement of their intent to get
prices under control, minutes of the June 14-15 policy meeting
* The head of the International Monetary Fund (IMF) on
Wednesday said the outlook for the global economy had “darkened
significantly” since April and she could not rule out a possible
global recession next year given the elevated risks.
* Benchmark US 10-year Treasury yields steady on
Thursday after gains in the previous session.
* Higher interest rates and bond yields lift the opportunity
cost of holding non-yielding bullion.
* Spot silver firmed 0.1% to $19.20 per ounce, while
platinum fell 0.3% to $853.25, and palladium
gained 1.3% to $1,929.51.
0130 Australia Trade Balance G&S May
0600 UK Halifax House Prices MM June
0600 Germany Industrial Output MM May
0645 France Reserve Assets Total June
1230 US International Trade May
1230 US Initial Jobless Clm Weekly
(Reporting by Bharat Govind Gautam in Bengaluru; Editing by Amy