PRECIOUS-Gold prices steady as economic worries support, gains in equities drag

An image of multiple stacks of coins
Credit: Shutterstock photo

BENGALURU, Dec 28 (Reuters) - Gold prices were steady nearsix-month highs on Friday, supported by worries over economicgrowth but pressured by gains in global equity markets.


* U.S. gold futures GCv1 inched down 0.2 percent to$1,278.1 per ounce.

* The dollar index .DXY , a gauge of its value versus sixmajor peers, was marginally weaker at 96.57, after losing 0.5percent overnight. USD/

* U.S. stocks roared back to end in positive territory onThursday following steep losses for much of the session, asequities rebounded for a second day. MKTS/GLOB

* A measure of U.S. consumer confidence posted its sharpestdecline in more than three years in December, rattling investorsalready nervous about the prospect that a global economicslowdown was spilling over into the United States.

* U.S. President Donald Trump is considering an executiveorder in the new year to declare a national emergency that wouldbar U.S. companies from using telecommunications equipment madeby China'sHuawei and ZTE, three sources familiar with thesituation told Reuters.

* China and the United States have made plans forface-to-face consultations over trade in January, the Chinesecommerce ministry said on Thursday, as the world's two biggesteconomies advanced efforts to resolve a months-long trade war.

* Earnings at China's industrial firms in November droppedfor the first time in nearly three years, as slackening externaland domestic demand left businesses facing more strain in 2019in a sign of rising risks to the world's second-largest economy.

* China's net gold imports via main conduit Hong Kong rose28 percent in November from the previous month to their highestsince July, data showed on Thursday.

* SPDR Gold TrustGLD , the world's largest gold-backedexchange-traded fund, said its holdings fell 0.30 percent to787.67 tonnes on Thursday from 790.02 tonnes on Wednesday.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story


Other Topics

World Markets Politics


Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at and via Reuters TV.

Learn More