January 10, 2018 / 1:23 AM / 2 months ago

PRECIOUS-Gold inches down on strong equities, higher U.S. Treasury yields

    Jan 10 (Reuters) - Gold prices edged lower for a second
session early on Wednesday, as a rally in equities and a surge
in U.S. treasury yields dented bullion's safe-haven appeal.
    * Spot gold        dipped 0.3 percent to $1,309.26 an ounce
by 0049 GMT. Prices fell 0.6 percent on Tuesday, its biggest
one-day loss in a month.
    * Last week, prices touched their highest since Sept. 15 at
    * U.S. gold futures         were down 0.2 percent at
$1,318.10 an ounce. 
    * The dollar index, which tracks the greenback against a
basket of six major rival currencies, was steady at 92.517
      . It touched over 1-week highs at 92.640 on Tuesday.
    * Benchmark U.S. Treasury yields hit a 10-month high on
Tuesday after the Bank of Japan tweaked its bond-buying program,
while stocks in world indexes continued their flying start to
the year.             
    * The S&P 500 and Nasdaq have hit records every trading day
of the new year, or the past six sessions, providing optimism on
the outlook for the rest of the year.            
    * The U.S. Federal Reserve should keep interest rates low so
that wage gains accelerate and inflation rises, Minneapolis
Federal Reserve President Neel Kashkari said on Tuesday.
    * Investors are betting on further U.S. interest rate hikes
after Friday's payrolls data did nothing to challenge the
outlook for monetary policy tightening by the U.S. Federal
    * Palladium recorded its life-time high on Tuesday at
$1,111.40 an ounce, boosted by increased demand from the
automotive industry. It was steady at $1,098.97 on Wednesday.
    * Holdings of SPDR Gold Trust      , the world's largest
gold-backed exchange-traded fund, fell 0.35 percent to 831.91
tonnes on Tuesday from 834.86 tonnes on Monday.
    * A South African tribal leader has agreed to a more
transparent structure for a 175 million rand ($14 million)
community trust funded by Anglo American Platinum (Amplats)
        , a move that aims to curb unrest around the firm's most
profitable mine.             

    * 1330  U.S.   Import, Export Prices    December

 (Reporting by Nallur Sethuraman in Bengaluru; editing by
Richard Pullin)
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