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PRECIOUS-Gold prices rise, North Korea tensions support
November 21, 2017 / 1:21 AM / a month ago

PRECIOUS-Gold prices rise, North Korea tensions support

    Nov 21 (Reuters) - Gold prices crept up early on Tuesday
after falling more than 1 percent in the previous session, with
U.S. President Donald Trump's move to put North Korea back on a
list of state sponsors of terrorism burnishing the metal's
safe-haven appeal.     
        
    FUNDAMENTALS    
    * Spot gold        was up 0.2 percent at $1,279.05 per ounce
by 0059 GMT. Bullion fell about 1.4 percent on Monday in its
biggest one-day percentage drop since Sept. 11. 
    * U.S. gold futures         for December delivery gained 0.3
percent to $1,278.60.
    * Trump put North Korea back on a list of state sponsors of
terrorism on Monday, a designation that allows the United States
to impose more sanctions and risks inflaming tensions over
Pyongyang's nuclear weapons and missile programmes.             
   
    * The dollar gave back some of its gains in Asian trading on
Tuesday, but remained not far from a one-week high against a
basket of currencies as German political uncertainty continued
to pressure the euro.       
    * Federal Reserve Chair Janet Yellen said on Monday she
would resign her seat on the Fed's Board of Governors once
Jerome Powell is confirmed and sworn in to replace her as head
of the U.S. central bank.             
    * Chancellor Angela Merkel said she would prefer a new
election to ruling with a minority after talks on forming a
three-way coalition failed overnight, but Germany's president
told parties they owed it to voters to try to form a government.
            
    * Russia's VTB Capital, one of Russia's biggest gold
traders, aims to more than double sales of the precious metal to
China next year, its global commodities chief said, after import
curbs forced it to cut its target for this year.             
    * Russia's gold reserves stood at 57.9 million troy ounces
as of the start of November, the central bank said on Monday.
            
    * Russia's Norilsk Nickel          , the world's top
palladium producer, said it plans to boost purchases of
palladium for its fund from Russian central bank reserves to
help ease shortages in the market.             
    * U.S. Treasury yields rose on Monday as investors awaited
minutes on Wednesday from the Fed's last meeting, with no major
economic releases due this week and trading expected to be
subdued before the Thanksgiving holiday on Thursday.
            

        DATA/EVENT AHEAD (GMT)
        1330  U.S. National activity index    Oct
        1500  U.S. Existing home sales        Oct   

 (Reporting by Vijaykumar Vedala in Bengaluru; Editing by Joseph
Radford)
  

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