for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

PRECIOUS-Gold eases on global recovery hopes; weak dollar limits losses

    May 25 (Reuters) - Gold prices edged lower on Tuesday as
hopes of quick economic recovery lifted demand for riskier
assets, although a weaker dollar and lower U.S. Treasury yields
limited losses for the safe-haven metal.
       
    FUNDAMENTALS
    * Spot gold        was down 0.2% at $1,877.26 per ounce by
0106 GMT.
    * U.S. gold futures        fell 0.3% to $1,879 per ounce.
    * The dollar languished near four-month lows against major
currencies, making gold cheaper for other currency holders.
      
    * U.S. Treasury long-dated yields fell to two-week lows
after a few Federal Reserve officials affirmed their support to
keep monetary policy accommodative for some time.      
    * St. Louis Fed President James Bullard said he expects the
inflation rate to be above 2% both this year and the next but
several Fed officials, including Bullard, continued to support
the central bank's policy in separate remarks.
                        
    * Some investors view gold as a hedge against higher
inflation.
    * Sentiment in wider financial markets remained upbeat.     
           
    * Global real gross domestic product is projected to surge
5.7% in 2021, its strongest advance since 1973, while the U.S.
economy will likely expand 6.7% this year, according to the
latest economic forecasts for IHS Markit.             
    * Singapore's economy expanded more than initially estimated
in the first quarter, helped by stronger-than-expected
manufacturing, official data showed on Tuesday.             
    * SPDR Gold Trust      , the world's largest gold-backed
exchange-traded fund, said its holdings rose 0.3% to 1046.12
tonnes on Monday from 1042.92 tonnes on Friday.          
    * Palladium        rose 0.5% to $2,741.24 per ounce, silver
       fell 0.6% at $27.64 and platinum        slipped 0.2% to
$1,171.54.
    
DATA/EVENTS (GMT)  
0600  Germany  GDP Detailed QQ, YY SA, NSA   Q1
1400  US       Consumer Confidence          May
1400  US       New Home Sales-Units         April
    

 (Reporting by Brijesh Patel in Bengaluru; Editing by
Ramakrishnan M.)
  
for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up