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PRECIOUS-Gold edges up on U.S.-Iran jitters; firm dollar, stocks limit gains


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April 23 (Reuters) - Gold prices edged up on Tuesday asWashington moved to choke off Iran's oil revenues, promptingsafe haven buying, but gains were capped by a strong dollar andAsian shares hovering near a nine-month peak.

FUNDAMENTALS

* Spot gold XAU= gained 0.1 percent to $1,275.78 per ounceas of 0115 GMT.

* The dollar index .DXY against a basket of six key rivalswas a shade higher, edging near a 2019 high of 97.71 struck inearly March. FRX/

* Asian shares were little changed on Tuesday, hovering notfar from Thursday's nine-month peak, as many markets begantrading after a long Easter weekend, with concerns over China'spolicy easing capping gains. MKTS/GLOB

* Stocks on Wall Street hovered near break-even overnight asthe benchmark S&P 500 index .SPX was about 1 percent away fromthe record high hit in September, with the S&P energy index .SPNY leading the gains on higher oil prices.

* The United States on Monday demanded that buyers ofIranian oil stop purchases by May 1 or face sanctions, a move tochoke off Tehran's oil revenues which sent crude prices tosix-month highs on fears of a potential supply crunch. urn:newsml:reuters.com:*:nL1N22410RO/R

* Russia raised its gold holdings by 19.4 tonnes in March,data from the International Monetary Fund showed on Monday. urn:newsml:reuters.com:*:nFWN22207K

* U.S. home sales fell more than expected in March as risingdemand stoked by declining mortgage rates and slowing houseprice inflation continued to be frustrated by a lack ofproperties, especially in the lower-priced segment of themarket, data showed on Monday. urn:newsml:reuters.com:*:nL1N2240DI

* Red 5 Ltd reported gold production from its WestAustralian gold operations fell to 24,187 ounces in March 2019quarter from 26,118 ounces in the December quarter. urn:newsml:reuters.com:*:nFWN2240FB

* Barrick Gold Corp and Newmont Goldcorp Corporation'sNevada joint venture deal clears all regulatory conditions, thecompanies said on Monday. urn:newsml:reuters.com:*:nFWN2200GF

DATA AHEAD (GMT)

* 1400 U.S. New Home Sales-Units March

* 1400 EU Consumer Confid. Flash April (Reporting by Arijit Bose in Bengaluru; editing by RichardPullin) ((Arijit.Bose@thomsonreuters.com; Within U.S. +1 651 848 5832,Outside U.S. +91 8067495254; Reuters Messaging:Arijit.Bose.thomsonreuters.com@reuters.net))






This article appears in: Stocks , World Markets , Politics
Referenced Symbols: SPX ,




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