November 15, 2018 / 1:14 AM / a month ago

PRECIOUS-Gold prices hold steady as dollar eases

    Nov 15 (Reuters) - Gold prices held steady on Thursday,
after rising nearly a percent in the previous session, as the
dollar retreated further from a 16-month peak against a basket
of currencies. 
        
    FUNDAMENTALS
    * Spot gold        was little changed at $1,210.65 per ounce
at 0055 GMT.
    * U.S. gold futures         were flat 0.1 percent at $1,203
per ounce.
    * The dollar index       , which measures the greenback
against a basket of six major currencies, was down about 0.1
percent, nudged down by firmer pound and euro.       
    * British Prime Minister Theresa May won the backing of her
senior ministers for a draft European Union divorce deal on
Wednesday, freeing her to tackle the much more perilous struggle
of getting parliament to approve the agreement.             
    * Italy re-submitted its draft 2019 budget to the European
Commission with the same growth and deficit assumptions as a
draft rejected for breaking European Union rules, stepping up
its showdown with the EU over its fiscal policy.             
    * U.S. consumer prices increased by the most in nine months
in October amid gains in the cost of gasoline and rents,
pointing to steadily rising inflation that likely will keep the
Federal Reserve on track to raise interest rates again next
month.             
    * Fed Chair Jerome Powell said the introduction of press
conferences after every Federal Reserve meeting next year means
all meetings are now "live" for possible rate increases.
            
    * China has delivered a written response to U.S. demands for
wide-ranging trade reforms, three U.S. government sources said
on Wednesday, a move that could trigger negotiations to bring an
end to a withering trade war between the world's top economies.
            
    * Paulson & Co, led by longtime gold bull John Paulson, kept
its stake in gold investments during the third quarter of 2018
while other heavyweights including Soros Fund Management LLC,
Jana Partners LLC and Caxton Corp remained unexposed to the
metal.             
    * Pan American Silver Corp           said Wednesday it has
agreed to buy Tahoe Resources Inc          in a $1.07 billion
cash and stock deal that would create a top global silver miner
but also include some troublesome assets.             
    
    DATA AHEAD (GMT)
    0130  China           House prices                 Oct
    0930  UK              Retail sales                 Oct
    1000  Euro zone       Eurostat trade               Sept
    1330  U.S.            New York Fed manufacturing   Nov
    1330  U.S.            Import prices                Oct
    1330  U.S.            Export prices                Oct
    1330  U.S.            Weekly jobless claims
    1330  U.S.            Philly Fed business index    Nov
    1330  U.S.            Retail sales                 Oct
    1500  U.S.            Business inventories         Sept


 (Reporting by Eileen Soreng in Bengaluru, Editing by Sherry
Jacob-Phillips)
  
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