Gold prices held steady on Friday amida firmer dollar as markets waited to see if U.S. PresidentDonald Trump will face hurdles on his economic agenda after U.S.lawmakers delayed a vote on a healthcare bill. FUNDAMENTALS * Spot gold was down 0.1 percent at $1,243.60 perounce by 0058 GMT. On Thursday, it touched its strongest sinceFeb. 28 at $1,253.12. * U.S. gold futures were down 0.3 percent at$1,243.80. * Palladium climbed to a peak of $808.70 in the priorsession, its highest since March 2015. * U.S. President Donald Trump will get a second chance totry to close the deal with Republican lawmakers on dismantlingObamacare in a high-stakes vote on a new healthcare billrescheduled for Friday. * A rough ride for the healthcare plan could affect Trump'sefforts to cut taxes and boost infrastructure, with thepotential to drive more investors to gold as a safe haven ifstock markets fall, analysts and traders said. * U.S. home resales fell more than expected in February amida persistent shortage of houses on the market that is pushing upprices and sidelining prospective buyers. * New U.S. single-family home sales jumped to a seven-monthhigh in February, suggesting the housing market recovery wasgaining momentum despite higher prices and rising mortgagerates. * Economic recovery in the euro zone is gaining ground andsome data points to robust momentum in the first quarter despiteuncertainty over Brexit, China's rebalancing and new U.S.policies clouding the outlook, the European Central Bank said onThursday. * Dallas Federal Reserve Bank President Robert Kaplan saidthe U.S. central bank should be moving "deliberately butpatiently" to remove monetary policy accommodation, as long asthe economy continues to make progress toward the Fed's goals. * San Francisco Federal Reserve President John Williams saidThursday that the economy is in a good place and that the U.S.central bank should continue to raise interest rates this yearas fast as or faster than it has signaled it would. * Federal Reserve Chair Janet Yellen did not addressmonetary policy or the economic outlook in prepared remarks fora childhood education conference in Washington. * Workers downed tools on Thursday in a wildcat strike atHarmony Gold's Kusasalethu mine west of Johannesburg,the company said. DATA AHEAD (GMT) 0745 France GDP Final Q4 0800 France Markit manufacturing flash PMI Mar 0830 Germany Markit manufacturing flash PMI Mar 0900 Euro zone Markit manufacturing flash PMI Mar 1230 U.S. Durable goods Feb 1445 U.S. Markit manufacturing flash PMI Mar Federal Reserve Chair Janet Yellen speaks at lunch event at the Brookings Institution to discuss Fed's recent rate action and monetary policy (Reporting By Nallur Sethuraman in Bengaluru; Editing byRichard Pullin)
|Scooped by Igor Espanhol|
Igor Espanhol's insight:
"March 24 Gold prices held steady on Friday amid a firmer dollar as markets waited to see if U.S. President Donald Trump will face hurdles on his economic agenda after U.S. lawmakers delayed a vote on a healthcare bill."