FUNDAMENTALS
* Spot gold was little changed at $1,753.47 an ounce at 0016 GMT. US gold futures rose 0.5% to $1,753.30.
* A “substantial majority” of Fed policymakers agreed that it would “likely soon be appropriate” to slow the pace of interest rate hikes, the minutes of the Nov. 1-2 meeting showed on Wednesday.
* This put the dollar on course for a weekly decline, making gold cheaper for overseas buyers.
* The Fed’s signal of a slowing pace of rate hikes provides relief for global peers to continue raising rates and offers relief to emerging markets, which suffered their biggest rout in more than a decade this year.
*Lower rates tend to increase the attractiveness of bullion relative to other interest-bearing assets.
* Lebanon’s central bank completed an audit of its gold reserves at the request of the International Monetary Fund which found that the amount of gold in its vaults was identical to the amounts mentioned in its balance sheets, according to a bank statement.
* The Ghanaian government is working on a new policy of purchasing petroleum products with gold rather than US dollar reserves, Vice President Mahamudu Bawumia said on Facebook on Thursday, in a bid to tackle the dwindling foreign currency reserves.
* Spot silver fell 0.3% to $21.45, platinum fell 0.1% to $986.78, while palladium was little changed at $1,881.97.
* Market activity was relatively muted by the US Thanksgiving holiday.
FUNDAMENTALS
* Spot gold was little changed at $1,753.47 an ounce at 0016 GMT. US gold futures rose 0.5% to $1,753.30.
* A “substantial majority” of Fed policymakers agreed that it would “likely soon be appropriate” to slow the pace of interest rate hikes, the minutes of the Nov. 1-2 meeting showed on Wednesday.
* This put the dollar on course for a weekly decline, making gold cheaper for overseas buyers.
* The Fed’s signal of a slowing pace of rate hikes provides relief for global peers to continue raising rates and offers relief to emerging markets, which suffered their biggest rout in more than a decade this year.
*Lower rates tend to increase the attractiveness of bullion relative to other interest-bearing assets.
* Lebanon’s central bank completed an audit of its gold reserves at the request of the International Monetary Fund which found that the amount of gold in its vaults was identical to the amounts mentioned in its balance sheets, according to a bank statement.
* The Ghanaian government is working on a new policy of purchasing petroleum products with gold rather than US dollar reserves, Vice President Mahamudu Bawumia said on Facebook on Thursday, in a bid to tackle the dwindling foreign currency reserves.
* Spot silver fell 0.3% to $21.45, platinum fell 0.1% to $986.78, while palladium was little changed at $1,881.97.
* Market activity was relatively muted by the US Thanksgiving holiday.