November 26, 2019 / 1:35 AM / 8 months ago

PRECIOUS-Gold dips as China-U.S. trade optimism dents safe-haven demand

    Nov 26 (Reuters) - Gold prices fell to a two-week low on
Tuesday as the dollar firmed and equities rose on increasing
optimism that China and the United States could seal an interim
trade deal by year-end.
    * Spot gold        was down 0.1% to $1,453.24 per ounce by
0108 GMT, having fallen to its lowest since Nov. 12 earlier in
the session. U.S. gold futures        inched 0.2% lower to
    * China and the United States are "moving closer to
agreeing" on a "phase one" trade deal, the Global Times, a
tabloid run by the ruling Communist Party's official People's
Daily, reported on Sunday.             
    * Asian stocks rose on growing hopes that the world's top
two economies will reach an agreement soon.             
    * The dollar hit a one-week high versus the yen.       
    * China said on Sunday it would seek to improve protections
for intellectual property rights.             
    * Hong Kong's leader said on Monday she would listen to
public opinion after a landslide election victory by opponents
of Chinese rule.             
    * Tightening control over efforts to manage the upheaval in
Hong Kong, the Chinese leadership has set up a crisis command
center on the mainland side of the border and is considering
replacing its official liaison to the city, people familiar with
the matter said.             
    * Monetary policy is "well positioned" to support the strong
labor market, which is just now starting to benefit workers on
the margins, U.S. Federal Reserve Chair Jerome Powell said on 
    * U.S. House of Representatives Speaker Nancy Pelosi said a
version of the U.S.-Mexico-Canada trade agreement that House
Democrats could back was "within range" but that they needed to
conduct a final review.             
    * Poland could keep buying gold as the country's economy
grows, potentially doubling the proportion of total reserves
held in the metal, central bank governor Adam Glapinski said.
    * Holdings of the SPDR Gold Trust      , the world's largest
gold-backed exchange-traded fund, rose 0.5% to 896.48 tonnes on
Monday from Friday.          
    * Australia's Evolution Mining Ltd          agreed to buy
Canadian gold mining complex Red Lake from Newmont Goldcorp Corp
        for $375 million.             
    * Silver        shed 0.3% to $16.84 per ounce, palladium
       rose 0.2% to $1,799.96 per ounce and platinum        was
down 0.3% to $893.93.
1500   US   Consumer Confidence    Nov
1500   US   New Home Sales-Units   Oct

 (Reporting by Sumita Layek in Bengaluru; Editing by Subhranshu
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