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PRECIOUS-Gold edges lower as improved risk sentiment dents safe-haven demand


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May 17 (Reuters) - Gold extended its losses on Friday,following its biggest one-day percentage loss in a month in theprevious session on a firmer dollar and as a strong U.S. data,corporate results boosted investor appetite for riskier assets.

FUNDAMENTALS

* U.S. gold futures GCv1 were 0.1% lower at $1,285.10 anounce.

* Gold fell 0.8% on Thursday, its biggest one-day percentagedecline in a month after risk sentiment improved.

* U.S. stock indexes extended gains on upbeat earnings aswell as robust economic data that underlined the strength of thedomestic economy. Meanwhile, the dollar index .DXY rose to itshighest level in nearly two weeks against a basket ofcurrencies. .NUSD/

* The pullback in risk aversion lifted treasury yields. Therise in yields underpinned the U.S. dollar. MKTS/GLOB

* A stronger dollar makes gold more expensive for holders ofnon-U.S. currency.

* The U.S. housing data showed homebuilding increased morethan expected in April, while unemployment benefits fell morethan expected last week, pointing to sustained labour marketstrength that should underpin the economy. urn:newsml:reuters.com:*:nL2N22R1F7

* A U.S. bid to block China'sHuawei TechnologiesHWT.UL from buying vital American technology threw into questionprospects for sales at some of the largest tech companies anddrew a sharp rebuke from Beijing, further ratcheting up tensionsover trade. urn:newsml:reuters.com:*:nL2N22S0RC

* Early in the week, spot gold prices rose 1.1%, registeringtheir best one-day percentage gain in nearly three months afterChina announced that it would impose retaliatory tariffs on arange of U.S. goods. urn:newsml:reuters.com:*:nL2N22P0A6

* One of the most popular questions at mining conferences iswhat is your top metal and why are you bullish on it. The clearwinner so far this year is gold. urn:newsml:reuters.com:*:nL4N22S1QF

* Africa-focused gold miner Metallon Corporation isdemanding nearly $132 million it says it is owed by Zimbabwe'scentral bank, legal documents showed on Thursday, as thecountry's mining sector grapples with a severe dollar crunch. urn:newsml:reuters.com:*:nL5N22R7NR

* Higher prices for industrial precious metals palladium andplatinum have boosted earnings at Sibanye-Stillwater, enablingthe miner to repay debt and plan to resume dividends next year,its chief executive Neal Froneman said. urn:newsml:reuters.com:*:nL5N22S4FU

* Canada's Iamgold Corp IMG.TO is exploring a possible saleof all or parts of the gold miner business, Bloomberg reportedon Thursday, citing people familiar with the matter. urn:newsml:reuters.com:*:nL4N22S4BA

* Azerbaijan's leading gold mining company, Anglo AsianMining AAZ.L, said on Thursday its gold output rose 22% in 2018to 72,798 ounces from 59,617 ounces in 2017. urn:newsml:reuters.com:*:nASP0011OY

(Reporting by Nallur Sethuraman in Bengaluru; editing byUttaresh.V) ((Sethuraman.NR@thomsonreuters.com; (Within U.S.1-651-848-5832, Outside U.S. +91 8067496031); Reuters Messaging:nallur.sethuraman.thomsonreuters.com@reuters.net))






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