Reuters
Published Oct 30, 2020 12:27
Oct 30 (Reuters) - Gold prices lingered near the one-month low hit in the previous session on Friday, as the dollar strengthened and hopes of an immediate U.S. coronavirus aid package waned.
FUNDAMENTALS
* Spot gold XAU= was flat at $1,867.30 per ounce by 0108 GMT and was on track to post its worst week in over a month.
* U.S. gold futures GCv1 were down 0.1% at $1,866.20.
* The dollar index .DXY was steady near a one-month peak touched on Thursday and is on track for it best week since late September. USD/
* President Donald Trump's chief economic adviser said on Thursday that any deal on coronavirus relief legislation would have to wait for now. The U.S. economy grew at a historic pace in the third quarter as the government injected more than $3 trillion worth of pandemic relief which fuelled consumer spending, but the effects of the COVID-19 recession is likely to linger for longer. The European Central Bank committed on Thursday to take new action in December to contain the growing fallout from a second wave of coronavirus infections, likely in the form of more bond purchases or cheap credit for banks. The discount of Chinese gold to international prices is expected to narrow in the fourth quarter as a recovery in the investment and wedding sectors boosts demand, a World Gold Council official said on Thursday. Silver XAG= rose 0.3% to $23.35 per ounce. Platinum XPT= was up 0.3% at $850.30 and palladium XPD= gained 0.4% at $2,199.64.
DATA/EVENTS (GMT)
0700 UK
Nationwide House Price MM, YY Oct
0900 Germany GDP Flash QQ SA, YY NSA
Q3
1000 EU
HICP Flash YY
Oct
1000 EU
HICP-X F&E Flash YY
Oct
1000 EU
GDP Flash Prelim YY, QQ
Q3
1000 EU
Unemployment Rate
Sept
1230 US
Consumption, Adjusted MM
Sept
1400 US
U Mich Sentiment Final
Oct
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.